Nasdaq Composite closes 1.07% lower at 25,164.32 points amid renewed AI pressure
Published on 11/02/2026 at 23:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSNasdaq close reflects renewed tech pressure
- The Nasdaq Composite ended November 2, 2026, at 25,164.32 points, down 272.68 points, or 1.07 percent.
- An early rally faded as selling returned to artificial-intelligence and semiconductor stocks.
- Marvell's planned acquisition of Lumentum and Oracle's AI financing plans added to pressure across the technology complex.
- Apple and Palantir earnings, together with the U.S. midterm elections, were identified as the next market catalysts.
The Nasdaq Composite closed Monday, November 2, 2026, at 25,164.32 points, down 272.68 points, or 1.07 percent. The decline followed an early advance and extended the recent weakness in technology and artificial-intelligence shares. The close was reported by The Associated Press.
Morning gains fail to hold
U.S. stocks initially benefited from a sharp decline in Brent crude prices, but the recovery in technology shares did not last. According to the Associated Press report, the Nasdaq Composite reversed course as investors remained cautious after the technology-led sell-off of the previous week. The majority of Wall Street stocks rose, but weakness in large technology names continued to weigh on the index.
The session ended with a marked divergence between the major benchmarks. The Dow Jones Industrial Average gained 213.67 points, or 0.4 percent, to 51,983.98, while the S&P 500 fell 38.67 points, or 0.5 percent, to 7,541.40. The Nasdaq Composite therefore underperformed both broader measures despite the intraday improvement in market breadth.
AI financing and deal risk in focus
Pressure was concentrated in companies linked to the AI infrastructure investment cycle. TradingKey reported that Marvell Technology fell 12.72 percent and Lumentum declined 18.59 percent after the companies announced an all-stock acquisition with an enterprise value of approximately 115 billion US dollars. Under the announced terms, Lumentum shareholders would receive 4.5 Marvell shares for each share held.
Oracle also weighed on sentiment, falling 8.85 percent after announcing a 10 billion US dollar bond offering for AI infrastructure and other corporate purposes, according to TradingKey. The financing plans highlighted investor concerns about the scale, funding and near-term returns of AI-related capital expenditure. Other semiconductor, memory, networking and data-center infrastructure stocks also recorded substantial declines.
Investors await the next catalysts
Monday's reversal left the market focused on whether technology shares can stabilize after the October sell-off. investingLive identified Apple and Palantir earnings after the close, as well as Tuesday's U.S. midterm elections, as near-term events for investors to monitor. These events may provide fresh information, but they do not by themselves determine the Nasdaq Composite's next move.
Further Nasdaq Composite coverage is available on the Nasdaq Composite topic page.
