November 6, 2026 | TickerRoast Markets Analysis
Overnight, Tokyo and Seoul fell about 6% each, while U.S. futures were mixed going into the October jobs report.
The Post-Election Rally Is Gone in a Day
Wednesday’s relief rally did not survive Thursday morning. The S&P 500 fell 334.89 points, or 4.36%, to 7,353.73. The Nasdaq Composite lost 1,421.51 points, or 5.52%, to 24,315.00, and the Dow Jones Industrial Average dropped 1,833.06 points, or 3.44%, to 51,523.06. The Russell 2000 fell 4.45% to 2,729.89. The Nasdaq closed 11.9% below its Oct. 6 closing high, which puts it in correction territory.
The center of the damage was the semiconductor complex. The PHLX Semiconductor Index fell 12.25% to 9,011.14. Micron dropped 17.46%, AMD 17.26%, Broadcom 10.43% and Nvidia 9.26%.
Nomura strategist Charlie McElligott described the move as hedge funds rushing to lock in 2026 gains, and Vanda Research said retail investors were net sellers of individual U.S. stocks at a pace not seen since March 2020. Investors are also weighing what a Democratic Congress could mean for data center regulation and AI infrastructure spending, the outlet reported. The CBOE Volatility Index jumped from 16.61 to 28.18.
Futures Split Ahead of the Open
By around 2 a.m. ET, S&P 500 futures were close to flat at 7,380.50, Nasdaq 100 futures were up about 0.7% at 26,951.50, and Dow futures were down about 1% at 51,116. After the bell on Thursday, Nvidia traded at $183.86 and Micron at $683.40 in the extended session, both above their regular closes.
Rates moved the way they usually do on a risk-off day. The 10-year Treasury yield fell about 5 basis points to roughly 4.84%, and the 5-year eased to about 4.61%. The ICE U.S. Dollar Index stood near 101.9. The policy backdrop has not changed since the Federal Reserve’s Oct. 28 statement, which kept the federal funds target range at 3.75% to 4% on a 10-2 vote.
Oil Edges Higher While Gold and Bitcoin Retreat
Crude bounced for a second session after Wednesday’s slide. December WTI traded at $91.37 a barrel, up about 0.9%, and Brent was at $99.62, up about 1.4%. Gold futures slipped about 1.4% to $4,055.10 an ounce, and bitcoin traded near $75,300, below the $80,000 level it had reclaimed on Wednesday.
Tokyo and Seoul Take the Hit Overnight
Asia absorbed the U.S. tech selloff in full. Japan’s Nikkei 225 fell 5.97% to 57,434.77, and South Korea’s Kospi dropped 6.02% to 5,059.69. According to The Kyunghyang Shinmun, the Kospi fell more than 8% shortly after the open, which triggered a 20-minute circuit breaker, followed by a sell-side sidecar on program trading at 9:34 a.m. local time. The paper reported Samsung Electronics down 7.10% and SK hynix down 8.15% at 9:40 a.m. Chinese markets were calmer: Hong Kong’s Hang Seng slipped 1.14% and the Shanghai Composite 1.19%.
Europe, which closed before the worst of the U.S. selling, finished Thursday mixed. The Euro Stoxx 50 lost 0.55% and Germany’s DAX 0.43%, while France’s CAC 40 gained 0.34%.
October Payrolls at 8:30, CPI on Tuesday
The Bureau of Labor Statistics calendar lists the Employment Situation report for October at 8:30 a.m. ET today. Next week brings October consumer prices and real earnings on Tuesday, Nov. 10, and producer prices on Friday, Nov. 13. Wednesday, Nov. 11, is the Veterans Day holiday.
Airbnb After the Bell, Moderna and Charter Before the Open
The standout after-hours report was Airbnb, which traded about 11% above its close after posting 19% revenue growth and announcing a new $12 billion buyback authorization.
Sources
- KOSPI triggers sell-side sidecar after circuit breaker — The Kyunghyang Shinmun
- Schedule of Selected Releases for November 2026 — U.S. Bureau of Labor Statistics
- Federal Reserve issues FOMC statement (Oct. 28, 2026) — Federal Reserve
- Airbnb third quarter 2026 shareholder letter (Exhibit 99.1) — Airbnb / SEC EDGAR
AI disclosure: This article was drafted with AI tools (Claude, by Anthropic) from the sources listed above and reviewed by the editor before publication.
Disclaimer: This article is for informational and educational purposes only. It provides general financial and business analysis and does not constitute investment advice, a personal recommendation, a recommendation to buy, sell or hold any security, or an offer to transact in any financial instrument. Information is based on publicly available sources as of November 6, 2026 and market data as of the 2026-11-05 close. Past performance is not a reliable indicator of future results; forecasts are uncertain and actual results may differ materially. Investing in shares involves risk, including the loss of capital. The publisher does not guarantee the accuracy or completeness of the information and accepts no responsibility for investment decisions made on the basis of this article. Readers should consult official company disclosures, conduct their own research and, where appropriate, seek advice from a licensed financial adviser. Conflicts of interest: At the time of writing, the author and TickerRoast have no position in the securities mentioned and receive no compensation from the companies discussed.
Anonymous reader poll, just for fun. Not investment advice.
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