{"id":"1794519832125-money-segment","slug":"s-and-p-down-four-point-four-percent","title":"S and P Down Four Point Four Percent","summary":"On Thursday, Nov. 5, the day after the midterms, U.S. stocks plunged. The S&P 500 fell 4.4% (334.89 points) to 7,353.73. The Nasdaq Composite fell 5.5%. The Dow fell 1,833.06 points (3.4%) to 51,523.06. All 11 S&P sectors fell. The drop more than erased Wednesday's gains of +1.6% for the S&P and +3.0% for the Dow. Reuters reported that Nasdaq-100 companies lost about $2.5 trillion in market value.\n\nAs reported, the selloff was led by AI, semiconductor and data-center stocks. Trump blamed Democrats' midterm results, but I couldn't find analysis supporting that as the main cause. I only had one aggregator source, so the fuller drivers are unverified.\n\nThe market numbers are right. The Dow fell 1,833 points (3.4%) and the S&P 500 fell 4.4% on Thursday, Nov. 5, after the midterms. I couldn't verify Trump's quoted post. The selloff was reported as an AI and tech-led rout, so his blaming Democrats is his own take, not an established cause.\n\nOn Thursday, Nov. 5 the S&P 500 fell 4.4% to close at 7,353.73. Its \"nearly $3 trillion\" loss is loose. Reuters put the Nasdaq-100 loss at about $2.5 trillion. Whether the selloff continues is speculation.\n\nThe direction is right, but the numbers are loose. On Nov. 5 the S&P fell 4.4%, the Nasdaq fell 5.5% and the Dow lost 1,833 points, not \"over 1,500\". Reuters put the Nasdaq-100 loss at about $2.5 trillion, not $2.8 trillion. All 11 S&P sectors fell.\n\nOn Thursday, Nov. 5, the S&P 500 fell 4.4%, the Nasdaq fell 5.5% and the Dow lost 1,833 points. Whether it's a bull-market top is opinion.","publishedAt":"2026-11-12T21:43:52.125Z","channel":{"id":"money","name":"Oncast Money","language":"en"},"show":"Closing Bell","verification":{"status":"verified","leadVerdict":"MISLEADING","notes":"MISLEADING: The market numbers are right. The Dow fell 1,833 points (3.4%) and the S&P 500 fell 4.4% on Thursday, Nov. 5, after the midterms. I couldn't verify Trump's quoted post. The selloff was reported as an AI and tech-led rout, so his blaming Democrats is his own take, not an established cause.\nSource: IndMoney (citing Reuters) (https://x.com/sentdefender/status/2118697823138877579)\n\nTRUE: On Thursday, Nov. 5 the S&P 500 fell 4.4% to close at 7,353.73. Its \"nearly $3 trillion\" loss is loose. Reuters put the Nasdaq-100 loss at about $2.5 trillion. Whether the selloff continues is speculation.\nSource: IndMoney (citing Reuters) (https://x.com/gabbidelapuerta/status/2119493332200235172)\n\nMISLEADING: The direction is right, but the numbers are loose. On Nov. 5 the S&P fell 4.4%, the Nasdaq fell 5.5% and the Dow lost 1,833 points, not \"over 1,500\". Reuters put the Nasdaq-100 loss at about $2.5 trillion, not $2.8 trillion. All 11 S&P sectors fell.\nSource: IndMoney (citing Reuters) (https://x.com/eagameover/status/2118888883748266202)\n\nTRUE: On Thursday, Nov. 5, the S&P 500 fell 4.4%, the Nasdaq fell 5.5% and the Dow lost 1,833 points. Whether it's a bull-market top is opinion.\nSource: IndMoney (citing Reuters) (https://x.com/ElliottForecast/status/2119538924758630621)","claims":[{"verdict":"MISLEADING","summary":"The market numbers are right. The Dow fell 1,833 points (3.4%) and the S&P 500 fell 4.4% on Thursday, Nov. 5, after the midterms. I couldn't verify Trump's quoted post. The selloff was reported as an AI and tech-led rout, so his blaming Democrats is his own take, not an established cause.","sourceName":"IndMoney (citing Reuters)","sourceUrl":"https://x.com/sentdefender/status/2118697823138877579","claim":"President Donald J. Trump posted on Truth Social last night that “The Stock Market crashed today because the Dumocrats had a big Tuesday — So sad to see, you only have yourselves to blame!” Yesterday, the Dow fell 1,833 points (3.4%), the S&P 500 fell 4.4% and the Nasdaq http","author":"OSINTdefender (@sentdefender)"},{"verdict":"TRUE","summary":"On Thursday, Nov. 5 the S&P 500 fell 4.4% to close at 7,353.73. Its \"nearly $3 trillion\" loss is loose. Reuters put the Nasdaq-100 loss at about $2.5 trillion. Whether the selloff continues is speculation.","sourceName":"IndMoney (citing Reuters)","sourceUrl":"https://x.com/gabbidelapuerta/status/2119493332200235172","claim":"🚨 WARNING: THE US STOCK MARKET MAY NOT BE DONE SELLING OFF! 🇺🇸📉 Thursday's market crash was a serious wake-up call. The S&P 500 plunged 4.36% in ONE DAY, closing at 7,353.73. Nearly $3 TRILLION in stock market value disappeared. And history offers some important lessons. ","author":"James Michael Anderson (@gabbidelapuerta)"},{"verdict":"MISLEADING","summary":"The direction is right, but the numbers are loose. On Nov. 5 the S&P fell 4.4%, the Nasdaq fell 5.5% and the Dow lost 1,833 points, not \"over 1,500\". Reuters put the Nasdaq-100 loss at about $2.5 trillion, not $2.8 trillion. All 11 S&P sectors fell.","sourceName":"IndMoney (citing Reuters)","sourceUrl":"https://x.com/eagameover/status/2118888883748266202","claim":"Just in: More than $2.8 trillion was wiped from the US stock market during a sharp selloff. The S&P 500 fell over 4%, while the Nasdaq dropped more than 5%, and the Dow Jones lost over 1,500 points. Al, semiconductor, and data-center stocks led the decline as investor concern","author":"SONS OF LIBERTY -MAGA MOVEMENT !!! (@eagameover)"},{"verdict":"TRUE","summary":"On Thursday, Nov. 5, the S&P 500 fell 4.4%, the Nasdaq fell 5.5% and the Dow lost 1,833 points. Whether it's a bull-market top is opinion.","sourceName":"IndMoney (citing Reuters)","sourceUrl":"https://x.com/ElliottForecast/status/2119538924758630621","claim":"\"The Stock Market suffered one of the Worst Days in History.\" News Headlines after Thursday's selloff S&P 500 -4.4%. Nasdaq -5.5%. Dow -1,800+ points. 📉 So is the bull market over? Or is this another correction, with the rally due to resume soon? 🤔 Our Elliott Wave count ha","author":"Elliottwave Forecast | Blue Box Method (@ElliottForecast)"}]},"sources":[{"url":"https://x.com/sentdefender/status/2118697823138877579","name":"IndMoney (citing Reuters)","kind":"x","verdict":"MISLEADING","author":"OSINTdefender (@sentdefender)"},{"url":"https://x.com/gabbidelapuerta/status/2119493332200235172","name":"IndMoney (citing Reuters)","kind":"x","verdict":"TRUE","author":"James Michael Anderson (@gabbidelapuerta)"},{"url":"https://x.com/eagameover/status/2118888883748266202","name":"IndMoney (citing Reuters)","kind":"x","verdict":"MISLEADING","author":"SONS OF LIBERTY -MAGA MOVEMENT !!! (@eagameover)"},{"url":"https://x.com/ElliottForecast/status/2119538924758630621","name":"IndMoney (citing Reuters)","kind":"x","verdict":"TRUE","author":"Elliottwave Forecast | Blue Box Method (@ElliottForecast)"}],"url":"https://oncast.fm/story/1794519832125-money-segment-s-and-p-down-four-point-four-percent","listenUrl":"https://oncast.fm/c/money","attribution":{"publisher":"Oncast","site":"https://oncast.fm","url":"https://oncast.fm/story/1794519832125-money-segment-s-and-p-down-four-point-four-percent","cite":"Cite https://oncast.fm/story/1794519832125-money-segment-s-and-p-down-four-point-four-percent and the original source links. Fact-check by Oncast (oncast.fm)."},"hostsSaid":[{"host":"Adam","text":"The S and P 500 lost four point four percent, and a post has the President blaming Democrats."},{"host":"Bill","text":"That's the headline after a brutal close. All eleven sectors fell."},{"host":"Adam","text":"Dow dropped one thousand eight hundred thirty-three points. Nasdaq was down five and a half percent."},{"host":"Bill","text":"OSINTdefender posted the President's reaction on X: \"The Stock Market crashed today because the Dumocrats had a big Tuesday.\""},{"host":"Adam","text":"Dumocrats. That's the official diagnosis."},{"host":"Bill","text":"I checked the numbers. Reporting says AI, chips and data centers led the rout."},{"host":"Adam","text":"Right—not a ballot box. More than erased Wednesday's gains."},{"host":"Bill","text":"Nasdaq-100 companies lost about two and a half trillion dollars in value, according to Reuters."},{"host":"Adam","text":"Some posts are throwing out two point eight trillion, nearly three. Reuters has it closer to two point five."},{"host":"Bill","text":"Fine. Still a monster down day."},{"host":"Adam","text":"So I don't buy the political blame. This was a crowded AI trade getting flushed."},{"host":"Bill","text":"I agree with the flush, but don't tell me politics didn't light the match. A big Democratic night spooks markets."},{"host":"Adam","text":"There's no analysis showing the midterms caused it. The selloff was led by semis and data-center names."},{"host":"Bill","text":"That's exactly my point—if you were already nervous on AI valuations, the midterms gave you a reason to sell."},{"host":"Adam","text":"Then the President should say that, not \"Dumocrats crashed the market.\""},{"host":"Bill","text":"He's Trump. He blames Democrats for the sun coming up. You want him to cite Elliott Wave?"},{"host":"Adam","text":"I want the cause straight. The market fell because positioning in AI was too deep."},{"host":"Bill","text":"And I'll take that. But my take: this is a correction, not the end of the world."},{"host":"Adam","text":"I can live with \"correction\" if you admit the tweet is spin."},{"host":"Bill","text":"Fine, the tweet is spin. Happy?"},{"host":"Adam","text":"Not happy—just accurate."},{"host":"Bill","text":"Different world entirely: Unusual Whales posted that Bloomberg reports SpaceX and Tesla are making progress in merger talks."},{"host":"Adam","text":"A deal could be announced as soon as December. That's wild."},{"host":"Bill","text":"Not crazy. Musk already blends Tesla AI, Optimus, and Starlink. Combining the companies would be the logical next step."},{"host":"Adam","text":"Hold on. No official word yet. This is \"reportedly,\" from unnamed sources at Bloomberg."},{"host":"Bill","text":"Sure, but Bloomberg isn't a Reddit rumor. They don't run that without some fire."},{"host":"Adam","text":"The mechanics are the problem. Tesla's a public automaker, SpaceX is private rockets and defense."},{"host":"Bill","text":"So a reverse merger? SpaceX folds into Tesla? Then Tesla shareholders get a piece of the moon."},{"host":"Adam","text":"And they also get a stack of regulatory headaches. You can't just staple a launch provider onto a car company's ticker."},{"host":"Bill","text":"Why not? Conglomerates do multiple things. But, sure, the board has to show minority holders a fair deal."},{"host":"Adam","text":"That's my issue. Musk controls both sides. Independent directors would have to sign off."},{"host":"Bill","text":"Oh, come on—he owns both. If the terms are fair, it's allowed."},{"host":"Adam","text":"Allowed isn't the same as announced. I'll believe it when there's a filing."},{"host":"Bill","text":"Fair. But if the report's right, this would be the deal of the decade."},{"host":"Adam","text":"Speaking of deal fever, Zero Hedge posted that Anthropic's IPO is said to be about six times oversubscribed."},{"host":"Bill","text":"\"Is said to be.\" That's doing a lot of work."},{"host":"Adam","text":"Right—an unnamed source, no confirmation from Anthropic or a major outlet."},{"host":"Bill","text":"But the demand makes sense. After a day where AI got hammered, the IPO calendar is still full of AI."},{"host":"Adam","text":"That's the irony. The trade that led the selloff is the one everyone still wants a piece of it."},{"host":"Bill","text":"Exactly. Today beat the price, not the story."},{"host":"Adam","text":"If the six-times number is real, it tells you money wants into AI names, even at these levels."},{"host":"Bill","text":"And if it's wrong, it's just another anonymous rumor on a red day."},{"host":"Adam","text":"We'll know when the book builds. Until then, treat it as a claim."},{"host":"Bill","text":"Same as the merger. Lots of smoke, not much filing."}]}