Nasdaq Enters Correction, Nikkei 225 Falls 5.9% Into Bear Market as AI Sell-Off Spreads
Updated
Updated · CNBC · Nov 6
Nasdaq Enters Correction, Nikkei 225 Falls 5.9% Into Bear Market as AI Sell-Off Spreads
3 articles · Updated · CNBC · Nov 6
Summary
Nasdaq futures rebounded 1% early Friday, but the damage from Thursday’s rout left the Nasdaq Composite down 5.5% and more than 10% below its recent high, officially in correction territory.
AI-linked shares drove the slide after election results raised fears of slower data-center construction: Micron and AMD each sank 17%, Nvidia fell 9%, and the Magnificent Seven lost more than $1 trillion in combined market value.
The sell-off spread across global markets, with Japan’s Nikkei 225 dropping 5.9% into a bear market and South Korea’s Kospi plunging more than 6%, while Hong Kong and mainland China also fell.
All three major U.S. indexes posted their worst one-day losses since April 2025, and they remain on track for weekly declines, with the Nasdaq down 4.4% and the S&P 500 off nearly 3%.
Investors now turn to Friday’s October payrolls report, where economists expect 59,000 jobs added and unemployment holding at 4.2%, for the next test of whether the pullback deepens or stabilizes.