The Invesco QQQ Trust closed at $647.05 on November 5, 2026, down 6.49%, as AI and chip stocks led a broad selloff. AMD and Micron each fell more than 17%, and Nvidia fell 9.26%.It was the second day The Invesco QQQ Trust closed at $647.05 on November 5, 2026, down 6.49%, as AI and chip stocks led a broad selloff. AMD and Micron each fell more than 17%, and Nvidia fell 9.26%.It was the second day

Why Is QQQ Down 6.5%? Nvidia, AMD and AI Stocks Sell Off After the Midterms

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Author: MEXC Editorial Team

2026/11/06 11:26

The Invesco QQQ Trust closed at $647.05 on November 5, 2026, down 6.49%, as AI and chip stocks led a broad selloff. AMD and Micron each fell more than 17%, and Nvidia fell 9.26%.

It was the second day of AI selling after the U.S. midterm elections. On November 4, the selling was limited to data center stocks, after the Texas governor result raised the risk of a construction slowdown. On November 5, it spread to chips and the wider market.

On MEXC, QQQ futures closed November 5 down 6.18% from their November 4 4:00 p.m. ET price. Bloom Energy futures fell 16.29% even though Bloom announced its largest international project that morning.

QQQ and the Market at a Glance

QQQ: $647.05, down 6.49% from $691.95
SPY: $733.00, down 4.41%
IWM: $270.98, down 4.59%
Nasdaq Composite: 24,315.00, down 5.52%
S&P 500: 7,353.73, down 4.36%
Dow Jones Industrial Average: 51,523.06, down 3.44%, or 1,833 points
Philadelphia Semiconductor Index (SOX): 9,011.14, down 12.25%
Cboe Volatility Index (VIX): 28.18, up 11.57 points
U.S. 10-year Treasury yield: 4.84%, down 5 basis points

The VIX rose from 16.61 the day before, while the 10-year Treasury yield fell 5 basis points.

Biggest Decliners: Nvidia, AMD and Chip Stocks

Micron (MU): $656.39, down 17.46%
AMD: $404.40, down 17.26%
Lumentum (LITE): $509.70, down 18.68%
Marvell (MRVL): $133.55, down 16.43%
Broadcom (AVGO): $291.53, down 10.43%
Nvidia (NVDA): $181.60, down 9.26%, on volume of about 308 million shares

The semiconductor index fell more than twice as much as the Nasdaq. Losses were heaviest in chip and AI networking names, while the Dow held up best.

Why Are Tech Stocks Down?

Several factors came together, and they are not equally firm.

What happened: Democrats won both chambers of Congress and several governorships in states with large AI data center projects. Investors then cut AI exposure for a second day. The Motley Fool reported that the party ran on increased oversight of the AI industry and that new governors in Texas, Ohio and Georgia have promised construction moratoriums.

Company news added to the pressure on chips. "Qualcomm's weak guidance and Arm's royalty miss hit chip stocks overnight," TIKR wrote. Applied Materials fell 11% with no news of its own.

What is still an expectation: no new federal AI rule or state data center moratorium had taken effect as of November 5. The selling reflects investors pricing in a risk of slower AI spending, not a confirmed change in company orders.

AI Power Stocks Fell Even on Good News

Bloom Energy (BE) closed at $167.52, down 16.41%, on the same day it announced a major order.

NTT DATA agreed to deploy up to 900 MW of Bloom's onsite power across multiple data center projects globally, according to Bloom's release. Bloom called it its largest international project to date, with initial shipments starting in 2027.

The release did not disclose a contract value or name specific sites. A framework agreement is not booked revenue, and shipments are more than a year away.

The reaction shows how the selloff worked. Investors sold AI infrastructure names as a group, and good company news did not offset the sector move.

After Hours: A Small Rebound

Shares edged higher in after-hours trading on November 5:

QQQ: $651.16, up 0.63%
Nvidia: $183.86, up 1.24%
Bloom Energy: $174.19, up 3.98%

After-hours volume is thin, and these prices can differ from the next regular-session open.

How QQQ, Nasdaq 100 and AI Stock Futures Reacted on MEXC

MEXC's QQQSTOCK_USDT, NAS100_USDT, NVIDIA_USDT and BESTOCK_USDT perpetual futures trade around the clock. Figures below come from MEXC's public futures API (hourly candles) and are compared with each futures price at 4:00 p.m. ET on November 4.

Before the opening bell: at 9:00 a.m. ET on November 5, QQQ and Nasdaq 100 futures were down 0.87%, Nvidia futures 1.60% and Bloom Energy futures 5.92%. Most of the decline came after the U.S. open.
At the U.S. close (4:00 p.m. ET): QQQ futures were down 6.18%, Nasdaq 100 futures 6.18%, Nvidia futures 9.02% and Bloom Energy futures 16.29%.
Lows: Bloom Energy futures touched 156.44 USDT in the 10:00–11:00 a.m. ET hour. QQQ futures touched 640.11 USDT in the 6:00–7:00 p.m. ET hour, after the stock market closed.
Evening: at 9:00 p.m. ET, QQQ futures were down 5.43%, Nvidia futures 7.36% and Bloom Energy futures 12.20%, recovering part of the day's loss.
Turnover: QQQ futures turnover in the 10:00–11:00 a.m. ET hour was about 10.8 million USDT, 31.5 times the hourly average from 4:00 p.m. on November 4 to 9:00 a.m. on November 5. For Nvidia futures, the same hour was 12.8 times the average.
Funding: QQQ futures funding settled between 0.0275% and 0.0312% at the three settlements after 00:00 UTC on November 5. Bloom Energy futures funding was 0% at every settlement on November 5.

Unlike the November 4 data center selloff, when futures had priced in most of the move before the open, the November 5 decline happened mainly during U.S. trading hours.

MEXC QQQSTOCK_USDT, NVIDIA_USDT and BESTOCK_USDT hourly closes, indexed to 100 at 4:00 p.m. ET on November 4, through 9:00 p.m. ET on November 5, 2026. Source: MEXC public futures API.

What's Next: The October Jobs Report

The next scheduled market event is the October U.S. jobs report, due Friday, November 6, at 8:30 a.m. ET. Economists polled by Reuters expect nonfarm payrolls to rise by 65,000, after a 29,000 gain in September.

Following QQQ and AI Stocks Through MEXC

QQQSTOCK_USDT, NAS100_USDT, NVIDIA_USDT and BESTOCK_USDT are perpetual futures settled in USDT. They trade outside Nasdaq and NYSE hours, so price moves can be followed overnight and around scheduled events; see how to trade stock futures on MEXC.

Eligible users can buy U.S.-listed shares and ETFs through MEXC RealStocks, which works with licensed broker partners.

Perpetual futures do not give shareholder rights, and they carry funding, leverage and liquidation risk.

FAQ

Why is QQQ down today?

On November 5, 2026, QQQ fell 6.49% to $647.05 as AI and chip stocks sold off for a second day after the midterm elections. Weak chip-sector news, including Qualcomm's guidance, added to the pressure.

Why did Bloom Energy stock fall despite the NTT DATA deal?

Bloom fell 16.41% as investors sold AI infrastructure stocks as a group. The 900 MW NTT DATA framework had no disclosed value, and first shipments are not expected until 2027.

Is the stock market crashing?

The Nasdaq fell 5.52% and the S&P 500 4.36% on November 5, a large one-day decline. The selling was concentrated in chip and AI stocks, with the semiconductor index down 12.25%.

Which stocks fell the most on November 5?

Lumentum fell 18.68%, Micron 17.46%, AMD 17.26%, Marvell 16.43% and Bloom Energy 16.41%.

How did QQQ futures react on MEXC?

QQQSTOCK_USDT was down 0.87% at 9:00 a.m. ET and 6.18% at 4:00 p.m. ET versus its November 4 close, then recovered to a 5.43% loss by 9:00 p.m. ET.

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