AI Stocks Plunge in Epic Selloff, Nasdaq and Semiconductor Indexes Tumble

On November 5, 2026, the Dow fell 1,833 points, the Nasdaq dropped 5.52%, and the Philadelphia Semiconductor Index slid 12.25%. Nvidia closed at $181.60, losing over $440 billion in market value in one day and turning negative for the year, while the seven tech giants collectively shed more than $1 trillion. Micron and AMD fell 17%, Broadcom 10%, Arm 13%. The author argues the short term is bearish but the long term remains bullish, as AI demand is unchanged and the bottleneck is construction speed—data center approvals, cloud cash flow, and memory supply—rather than demand itself.