A brutal sell-off for AI stocks sends Wall Street reeling, and the S&P 500 tumbles 4.4%

Los Angeles Times · Stan Choe · 2026-11-05 18:23 UTC

Another wipeout for stocks tied to the build-out of AI data centers is overwhelming Wall Street and more than erasing all its gains from the day before, which was its best in three months

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- A sell-off in AI-related stocks sent the S&P 500 down 3.5%, its steepest drop since April 2025, with the Nasdaq falling 4.7% and losses spreading across every S&P sector.

- Investors are weighing the high cost of financing data centers and the possibility that governments could slow construction, threatening demand for AI chips, electricity and other services.

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