Global Markets Plummet as AI Bubble Fears Hit Tech Stocks

Global financial markets plummeted on November 6, 2026, as a massive sell-off in artificial intelligence and technology stocks wiped approximately three trillion dollars from U.S. equity markets. The Nasdaq 100 closed 6.4% lower, with Nvidia sliding over 9%, while the S&P 500 fell 4.4%. The rout was triggered by U.S. midterm election results, where Democratic victories in states including Texas, Georgia, Ohio, and Pennsylvania sparked fears of moratoriums on data center construction.

Donald Trump attributed the market chaos to the Democrats, stating the stock market suffered one of its worst days in history. The volatility spread rapidly to Asia, where Japan's Nikkei and South Korea's KOSPI both dropped 6%. The Nikkei entered a technical bear market, and the KOSPI experienced a 20-minute trading halt on the open. European markets also declined, with the FTSE 100 falling 1.5% and Germany's DAX losing 1.43%.

Geopolitical instability compounded the economic downturn. Iran threatened to strike U.S. assets if attacked, prompting President Trump to suggest the U.S. might have to destroy the remainder of Iran. Meanwhile, the Bank of England raised interest rates to 4% to combat inflation. While most regions suffered, India outperformed its neighbors due to strong consumer results and a rotation away from semiconductors.