10 November 2026: Wall Street staged a powerful rebound on Monday. The S&P 500 rose 2.35%, its best day since April, as investors returned to beaten-down chipmakers and oil prices continued to fall. The rally followed the index’s worst week since April 2025, when fears about the future of artificial intelligence spending wiped hundreds of billions of dollars off tech stocks.
Key points:
- S&P 500: +2.35% to about 7,550.
- Nasdaq Composite: +2.74% to about 25,253.
- Dow Jones: +2.15% to about 52,390.
- The previous week the S&P 500 fell about 2.7%, including a 4.36% drop on Thursday, its worst day since April 2025.
- Attention now turns to October’s CPI inflation report.
From a midterm rally to an AI sell-off
The past week has been a roller coaster. On 4 November, the day after Democrats won control of Congress, stocks soared: the Dow jumped more than 1,500 points, its best day since April 2025, as oil prices tumbled. See our midterm results coverage.
But the mood turned quickly. Investors began to worry that a Democratic Congress and new state governments could bring tighter rules on AI and slow the building of data centres. Chip stocks led the decline: the Philadelphia Semiconductor index fell about 12% over the week, and Nvidia dropped more than 9% on Thursday alone. By the end of the week the Nasdaq was nearly 12% below its October record, putting it in correction territory.
Why stocks bounced back
- Bargain hunting in chips: after a steep fall, many semiconductor shares rebounded strongly, lifting the Nasdaq.
- Falling oil prices: lower energy costs ease inflation worries and help consumers and companies.
- Strong earnings: analysts at Deutsche Bank noted that company earnings have held up well despite the sell-off.
Not every tech name joined in: Nvidia was a notable laggard on Monday.
What to watch next
- CPI inflation (10 November): a hot reading could revive fears of a December Fed hike. Read our CPI preview.
- Fed speakers: Fed Governor Christopher Waller has said a December hike looks likely.
- AI policy news: any signals from Congress or state governments on data-centre rules.
- Treasury yields: the 10-year yield is near 4.9% after a strong jobs report.
What it means for investors
Sharp swings in both directions are a reminder that concentrated bets on one theme, such as AI, can be risky. Diversification and position sizing matter more than predicting the next move. If you trade index or stock CFDs, expect continued volatility and use stop-losses.
Risk warning: The value of shares can go down as well as up, and you may get back less than you invest. Trading stock and index CFDs with leverage carries a high risk of rapid losses. This article is for information only and is not investment advice.
Sources
- TheStreet: Stock market today, 9 November 2026
- The Motley Fool: Markets rally as semiconductor gains lift Nasdaq
- Yahoo Finance: The S&P 500 just had its worst week since April 2025
- Morningstar: AI sell-off gains steam on election fallout
- FXStreet / Deutsche Bank: AI-led sell-off and earnings resilience
Raheel Abbas