{"id":"1794616813822-money-segment","slug":"record-2-9-trillion-stock-wipeout","title":"Record $2.9 Trillion Stock Wipeout","summary":"On Thursday, Nov. 5, 2026, U.S. stocks suffered a sharp selloff. The S&P 500 fell 334.89 points, or 4.36%, to 7,353.73. The Dow lost 1,833.06 points, or 3.44%, to 51,523.06. The Nasdaq Composite dropped 1,421.52 points, or 5.52%, to 24,315.00, and the Nasdaq-100 fell 6.36%. Dow Jones Market Data estimated S&P 500 companies lost about $2.9 trillion in market value, a single-day record on that measure. The Nasdaq closed more than 10% below its October record, entering correction territory. Friday brought a partial rebound.\n\nReporting ties the drop to Democrats' midterm sweep, which raised fears of curbs on AI data-center construction, alongside weak chipmaker earnings from Qualcomm and Arm. The AI and chip slide had begun before the vote: the Nasdaq was already 8.1% below its Oct. 6 record on Election Day. The same election results had produced a broad rally on Wednesday, so the election was not the sole cause.\n\nOn Thursday, Nov. 5, 2026, the S&P 500 fell 4.36% to 7,353.73, and S&P 500 companies lost roughly $2.9 trillion in market value — a single-day record on that measure. The “may not be done selling off” part is opinion/speculation, not a checkable fact.\n\nThe numbers match reporting: S&P 500 -4.36%, Nasdaq -5.52%, Dow -1,833 points. Dow Jones Market Data estimated S&P 500 companies lost about $2.9 trillion, so “more than $2.8 trillion” is accurate. AI, semiconductor and data-center stocks led the decline: the tech sector fell 7.3%, Nvidia dropped more than 9%, and Micron and AMD fell about 17% each.\n\nThe point drops are real and record-large: S&P 500 -334.89 points, Nasdaq -1,421.52 points, Dow -1,833.06 points. But by percentage — the measure of what investors actually lost — Nov. 5 was not among the 20 worst S&P 500 days on record. It was the worst since April 2025 and the 11th-worst in the past decade. Calling it “one of the worst days in history” without specifying points is misleading.","publishedAt":"2026-11-14T00:40:13.822Z","channel":{"id":"money","name":"Oncast Money","language":"en"},"show":"Money Tonight","verification":{"status":"verified","leadVerdict":"TRUE","notes":"TRUE: On Thursday, Nov. 5, 2026, the S&P 500 fell 4.36% to 7,353.73, and S&P 500 companies lost roughly $2.9 trillion in market value — a single-day record on that measure. The “may not be done selling off” part is opinion/speculation, not a checkable fact.\nSource: [whatthefact.app](https://whatthefact.app/fact-checks/2026-11-06-biggest-single-day-stock-market-wipeout-history-2-8-trillion-nov-5), [thecrosscheck.org](https: (https://x.com/gabbidelapuerta/status/2119493332200235172)\n\nTRUE: The numbers match reporting: S&P 500 -4.36%, Nasdaq -5.52%, Dow -1,833 points. Dow Jones Market Data estimated S&P 500 companies lost about $2.9 trillion, so “more than $2.8 trillion” is accurate. AI, semiconductor and data-center stocks led the decline: the tech sector fell 7.3%, Nvidia dropped more than 9%, and Micron and AMD fell about 17% each.\nSource: [whatthefact.app](https://whatthefact.app/fact-checks/2026-11-06-biggest-single-day-stock-market-wipeout-history-2-8-trillion-nov-5), [thecrosscheck.org](https: (https://x.com/eagameover/status/2118888883748266202)\n\nMISLEADING: The point drops are real and record-large: S&P 500 -334.89 points, Nasdaq -1,421.52 points, Dow -1,833.06 points. But by percentage — the measure of what investors actually lost — Nov. 5 was not among the 20 worst S&P 500 days on record. It was the worst since April 2025 and the 11th-worst in the past decade. Calling it “one of the worst days in history” without specifying points is misleading.\nSource: [thecrosscheck.org](https://thecrosscheck.org/factcheck/2026-11-05-trump-stock-market-worst-days-election-factcheck/) (https://x.com/ElliottForecast/status/2119538924758630621)","claims":[{"verdict":"TRUE","summary":"On Thursday, Nov. 5, 2026, the S&P 500 fell 4.36% to 7,353.73, and S&P 500 companies lost roughly $2.9 trillion in market value — a single-day record on that measure. The “may not be done selling off” part is opinion/speculation, not a checkable fact.","sourceName":"[whatthefact.app](https://whatthefact.app/fact-checks/2026-11-06-biggest-single-day-stock-market-wipeout-history-2-8-trillion-nov-5), [thecrosscheck.org](https:","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":"TRUE","summary":"The numbers match reporting: S&P 500 -4.36%, Nasdaq -5.52%, Dow -1,833 points. Dow Jones Market Data estimated S&P 500 companies lost about $2.9 trillion, so “more than $2.8 trillion” is accurate. AI, semiconductor and data-center stocks led the decline: the tech sector fell 7.3%, Nvidia dropped more than 9%, and Micron and AMD fell about 17% each.","sourceName":"[whatthefact.app](https://whatthefact.app/fact-checks/2026-11-06-biggest-single-day-stock-market-wipeout-history-2-8-trillion-nov-5), [thecrosscheck.org](https:","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":"MISLEADING","summary":"The point drops are real and record-large: S&P 500 -334.89 points, Nasdaq -1,421.52 points, Dow -1,833.06 points. But by percentage — the measure of what investors actually lost — Nov. 5 was not among the 20 worst S&P 500 days on record. It was the worst since April 2025 and the 11th-worst in the past decade. Calling it “one of the worst days in history” without specifying points is misleading.","sourceName":"[thecrosscheck.org](https://thecrosscheck.org/factcheck/2026-11-05-trump-stock-market-worst-days-election-factcheck/)","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/gabbidelapuerta/status/2119493332200235172","name":"[whatthefact.app](https://whatthefact.app/fact-checks/2026-11-06-biggest-single-day-stock-market-wipeout-history-2-8-trillion-nov-5), [thecrosscheck.org](https:","kind":"x","verdict":"TRUE","author":"James Michael Anderson (@gabbidelapuerta)"},{"url":"https://x.com/eagameover/status/2118888883748266202","name":"[whatthefact.app](https://whatthefact.app/fact-checks/2026-11-06-biggest-single-day-stock-market-wipeout-history-2-8-trillion-nov-5), [thecrosscheck.org](https:","kind":"x","verdict":"TRUE","author":"SONS OF LIBERTY -MAGA MOVEMENT !!! (@eagameover)"},{"url":"https://x.com/ElliottForecast/status/2119538924758630621","name":"[thecrosscheck.org](https://thecrosscheck.org/factcheck/2026-11-05-trump-stock-market-worst-days-election-factcheck/)","kind":"x","verdict":"MISLEADING","author":"Elliottwave Forecast | Blue Box Method (@ElliottForecast)"}],"url":"https://oncast.fm/story/1794616813822-money-segment-record-2-9-trillion-stock-wipeout","listenUrl":"https://oncast.fm/c/money","attribution":{"publisher":"Oncast","site":"https://oncast.fm","url":"https://oncast.fm/story/1794616813822-money-segment-record-2-9-trillion-stock-wipeout","cite":"Cite https://oncast.fm/story/1794616813822-money-segment-record-2-9-trillion-stock-wipeout and the original source links. Fact-check by Oncast (oncast.fm)."},"hostsSaid":[{"host":"Bill","text":"Nearly three trillion dollars. Gone in one day. That's the number from Thursday's selloff, and it's a single-day record for market value wiped out."},{"host":"Adam","text":"The S&P fell four point three six percent to 7,353. The Dow lost over 1,800 points. Nasdaq dropped five and a half percent."},{"host":"Bill","text":"And the post going around from James Michael Anderson says the market may not be done selling off. That's the part I want to talk about."},{"host":"Adam","text":"The numbers are right. I checked. But 'may not be done' is a guess, not a fact."},{"host":"Bill","text":"Well, it's a guess with history behind it. When you lose three trillion in a day, people don't just shrug and go home."},{"host":"Adam","text":"Here's what actually happened. Democrats swept the midterms, and traders got scared about curbs on AI data-center construction."},{"host":"Bill","text":"Plus weak earnings from Qualcomm and Arm. The chip slide started before the vote — Nasdaq was already eight percent below its October record on Election Day."},{"host":"Adam","text":"So the election wasn't the whole story. But it sure lit the fuse."},{"host":"Bill","text":"And here's my problem. The same election results gave us a broad rally on Wednesday. Then Thursday, everyone panics about data centers. That's not a market, that's a mood swing."},{"host":"Adam","text":"Or it's a market repricing risk. If Washington is about to make it harder to build data centers, those AI valuations have to come down."},{"host":"Bill","text":"Come on. Nvidia dropped more than nine percent. Micron and AMD fell about seventeen percent each. That's not repricing, that's a stampede."},{"host":"Adam","text":"A stampede that started with real news. Qualcomm and Arm didn't just miss — they warned about the AI buildout slowing."},{"host":"Bill","text":"So we get one bad earnings day and suddenly the whole AI trade is dead? I don't buy it."},{"host":"Adam","text":"I'm not saying it's dead. I'm saying the market is finally asking what those data centers are worth if the power and permits get harder."},{"host":"Bill","text":"And I'm saying that looks like an overreaction dressed up as a crisis. Astor Research found that after prior four-percent-plus drops since 1950, the S&P was higher a year later 84 percent of the time."},{"host":"Adam","text":"Median gain of twenty-three and a half percent. I saw the same study. But past performance is not a promise."},{"host":"Bill","text":"No, but it's a pattern. The Kobeissi Letter pointed out the same thing — after similar drops since 1952, the market has historically rebounded."},{"host":"Adam","text":"Historically. But this drop wasn't just a number. It was a record in dollar terms. That's a lot of people selling at once."},{"host":"Bill","text":"And Friday we got a partial rebound. The S&P closed up about a third of a percent. Nasdaq up over one percent."},{"host":"Adam","text":"One day doesn't make a trend. But it does tell you the panic wasn't universal."},{"host":"Bill","text":"Here's what I keep coming back to. The market had already been sliding before the election. The Nasdaq was in correction territory — more than ten percent below its October record."},{"host":"Adam","text":"Right. So this wasn't just about one election night. It was about a sector that got ahead of itself."},{"host":"Bill","text":"But the way it's being framed — 'worst day in history' — that's the part that gets me. Elliottwave Forecast posted that headline, and it's misleading."},{"host":"Adam","text":"By points, sure, it was huge. But by percentage — what investors actually lost — it wasn't even in the top twenty worst days on record."},{"host":"Bill","text":"It was the worst since April 2025 and the eleventh-worst in the past decade. That's bad, but it's not history-making."},{"host":"Adam","text":"The dollar number sounds scarier because the market is so much bigger now. Three trillion in 2026 is not the same as three trillion in 2008."},{"host":"Bill","text":"Exactly. And that's why I hate the 'worst day in history' framing. It's designed to scare people."},{"host":"Adam","text":"But the fear wasn't invented. The tech sector fell seven point three percent. That's a real move."},{"host":"Bill","text":"Real move, real losses. But the question is whether it's a correction or the start of something worse. And I don't think anyone knows yet."},{"host":"Adam","text":"Which is exactly why the 'may not be done selling off' post is worth taking seriously. Not as a prediction, but as a warning."},{"host":"Bill","text":"Fair. But I'll say this — if you're a long-term investor, days like Thursday are the cost of admission. You don't get the rebounds without the drops."},{"host":"Adam","text":"And if you're a trader, days like Thursday are where you make or lose a year's pay in an afternoon."},{"host":"Bill","text":"That's the game. Speaking of games, there's a different kind of money story making the rounds — a central bank trial that sounds almost too smooth."},{"host":"Adam","text":"The UK, Singapore and Thailand's central banks reportedly completed a trial showing cross-border currency trades can settle simultaneously across traditional and distributed ledger systems."},{"host":"Bill","text":"That's from a Telegram channel called Cointelegraph. I couldn't independently confirm it, but if true, it's a big deal."},{"host":"Adam","text":"It would mean money moving across borders in real time, no waiting days for settlement. That's the dream of blockchain tech actually working."},{"host":"Bill","text":"And it's central banks doing it, not some crypto startup. That's the part that gets my attention."},{"host":"Adam","text":"But no official confirmation yet. So we treat it as a claim, not a fact."},{"host":"Bill","text":"Right. The rumor mill says it happened. The central banks haven't put out a joint statement that I've seen."},{"host":"Adam","text":"If it's real, it's the kind of thing that quietly changes how money works. No headlines, just plumbing."},{"host":"Bill","text":"And speaking of quiet changes, there's another one from the same channel — OpenAI reportedly launching a ChatGPT Wallet."},{"host":"Adam","text":"The claim is that OpenAI's 'dots' AI agents can now make purchases for users. That's a big step if true."},{"host":"Bill","text":"I couldn't confirm it either. But think about what that means — an AI agent with your money, buying things on your behalf."},{"host":"Adam","text":"That's either incredibly convenient or incredibly terrifying, depending on how much you trust the AI."},{"host":"Bill","text":"I trust it about as much as I trust a teenager with my credit card. Which is to say, not at all."},{"host":"Adam","text":"But if OpenAI is really doing this, it's a signal that AI agents are moving from chat to commerce."},{"host":"Bill","text":"And that's a whole new world of fraud, mistakes, and 'the AI bought what?' conversations."},{"host":"Adam","text":"No official confirmation from OpenAI yet. So again, a claim, not a fact."},{"host":"Bill","text":"Here's one that'll start a fight — Metaplanet, the Japanese Bitcoin treasury company, reportedly cut its 2026 revenue forecast by 59 percent."},{"host":"Adam","text":"The same channel says they reported a net loss of about 170 million dollars for the first nine months of 2026."},{"host":"Bill","text":"I couldn't verify those numbers. But if they're even close, that's a rough year for a company that bet big on Bitcoin."},{"host":"Adam","text":"Metaplanet is one of those companies that holds Bitcoin on its balance sheet, like a Japanese MicroStrategy."},{"host":"Bill","text":"And when Bitcoin is volatile, their revenue and earnings swing with it. That's the risk of being a Bitcoin treasury firm."},{"host":"Adam","text":"But a 59 percent revenue cut is not just volatility. That's a fundamental problem with the business model."},{"host":"Bill","text":"Or it's a sign that the Bitcoin treasury strategy works great in a bull market and terribly in a bear market."},{"host":"Adam","text":"Which is exactly what the skeptics have been saying for years. Bitcoin on the balance sheet is a leveraged bet, not a treasury strategy."},{"host":"Bill","text":"And the bulls say it's the future of corporate finance. The truth is probably somewhere in the middle."},{"host":"Adam","text":"But a 170 million dollar loss is a 170 million dollar loss. That's real money, no matter how you spin it."},{"host":"Bill","text":"And finally, there's a report that Treasury Secretary Bessent is blaming Commerce Secretary Lutnick for delaying Nvidia export controls."},{"host":"Adam","text":"That's from the same Telegram channel. I couldn't confirm it, but it's a juicy story if true."},{"host":"Bill","text":"Two cabinet secretaries fighting over chip export policy. That's the kind of thing that moves markets."},{"host":"Adam","text":"Nvidia is at the center of the AI trade, and export controls are a huge deal for their business."},{"host":"Bill","text":"If Bessent is really blaming Lutnick, it means the administration is divided on how hard to come down on chip exports."},{"host":"Adam","text":"And that uncertainty is exactly what the market hates. It's already dealing with the AI selloff, now this."},{"host":"Bill","text":"But again, no official confirmation. So we treat it as a claim, not a fact."},{"host":"Adam","text":"The bottom line on all of this — Thursday was a brutal day, Friday was a partial rebound, and the market is still trying to figure out what comes next."},{"host":"Bill","text":"And the people who say they know for sure? They're selling something."}]}