Nasdaq’s 5.5% Wipeout And AI's Next Reality Check; IRS' New Tax Brackets - United States Oil Fund (ARCA:USO),…

Benzinga · Gav Blaxberg · 2026-11-06 11:38 UTC

AI stocks unravel as Cloudflare, Airbnb and the IRS deliver a very different set of numbers.

THE AI TRADE HITS THE BRAKES—A Nasdaq correction. A rebound in oil. And a sharp divide between the companies building AI and the ones putting it to work.

Yesterday’s relief rally disappeared in a hurry. The S&P 500 fell 4.36%, while the Nasdaq dropped 5.52% and finished 11.9% below its October record. A decline of more than 10% from a recent peak is what Wall Street calls a correction.

A BROAD SELLOFF

Read the full story at Benzinga · All coverage of this story