S&P 500 faces Friday test after 4.36% sell-off
Published on 11/06/2026 at 13:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFriday rebound faces major data test
- The S&P 500 fell 4.36% to 7,353.73 on Thursday, erasing the prior session's post-election rally.
- AI-linked shares led the sell-off as investors reassessed the outlook for data-center investment after the U.S. midterm elections.
- Early Friday futures were mixed, while October payrolls and the University of Michigan survey were scheduled for release.
The S&P 500 enters Friday's U.S. session after one of its sharpest declines of the year. The index fell 334.89 points, or 4.36%, to 7,353.73 on Thursday, according to Reuters. The move followed a 1.58% gain to 7,688.62 on Wednesday, a level also reported by S&P Dow Jones Indices.
AI concerns drive broad retreat
Thursday's decline was led by companies tied to artificial-intelligence infrastructure. Reuters reported that Nvidia fell more than 9% and that the Philadelphia SE Semiconductor Index lost more than 12%. Investors were concerned that Democratic victories in the midterm elections could increase political pressure on data-center construction and slow the capital spending that has supported chipmakers and related suppliers.
The selling spread beyond semiconductors. Meta Platforms fell 4%, while Amazon.com and Alphabet each lost 2.2%, Reuters reported. The Nasdaq Composite dropped 5.52% to 24,315.00 and the Dow Jones Industrial Average declined 3.44% to 51,523.06. Heavy turnover underscored the breadth of the de-risking: 26.9 billion shares changed hands on U.S. exchanges, versus a 20-session average of 17.7 billion, according to Reuters.
Futures point to a cautious open
Early Friday indications suggested a tentative attempt to stabilize rather than a clear reversal. Yahoo Finance reported S&P 500 futures up 0.08% and Nasdaq 100 futures up 1.01%, while Dow futures were down 0.92%. The split signals reflected an early rebound attempt in technology shares alongside continued caution in broader risk assets.
Investors also had a significant data agenda ahead. October nonfarm payrolls, the unemployment rate and average hourly earnings were scheduled for 8:30 a.m. Eastern time, followed by the preliminary University of Michigan consumer survey at 10:00 a.m. Eastern time, according to Yahoo Finance. The releases could influence expectations for Federal Reserve policy after Thursday's decline in Treasury yields.
Index remains positive in 2026
Despite Thursday's loss, Reuters reported that the S&P 500 remained up 7.4% for 2026. For the Friday premarket, the immediate question is whether employment data can steady sentiment after the abrupt reversal from Wednesday's election-driven rally, or reinforce concerns about growth, rates and the valuation of AI-related shares.
Further S&P 500 coverage is available on the index topic page.
