’Our phones are exploding’: Goldman Sachs dissects historic Wall Street crash

Investing.com · Senad Karaahmetovic · 2026-11-05 22:03 UTC

’Our phones are exploding’: Goldman Sachs dissects historic Wall Street crash

Investing.com - Wall Street witnessed a massive crash on Thursday as AI-related chipmakers and infrastructure stocks suffered what Goldman Sachs’ trading desk called a "spectacular" reversal after yesterday’s post-election rebound.

"Yesterday was one of our busiest days of the year on the equities trading desk. Today is the opposite," the bank’s traders said.

The tech-heavy NASDAQ led a sharp sell-off on Thursday, cratering 5.5% and plunging into official correction territory. The benchmark S&P 500 also suffered heavy losses, sliding 4.3% as both indexes notched their worst intraday performances since April 4, 2025. The blue-chip Dow Jones Industrial Average fell 3.4%, erasing all gains from Wednesday’s rally.

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