Wall Street and tech giants tumble as AI regulation fears spark global selloff

Wall Street experienced a severe selloff on Thursday, November 5, 2026, with the tech-heavy Nasdaq plunging 5.5%, its worst session since April 2025, erasing approximately $3.2 trillion in market value. The decline was driven by investor fears that the Democratic takeover of the U.S. House and Senate could lead to stricter regulations on artificial intelligence and energy-intensive data centers. The selloff spread to Asian markets overnight, with Tokyo and Seoul falling nearly 6% and 8%, respectively, while European indices opened down over 1% on Friday. Chipmakers were hit hardest, with Nvidia losing nearly 9% and Samsung Electronics dropping about 10%. Collectively, the "Magnificent Seven" tech giants lost over $800 billion in a single session. European markets fared relatively better, supported by traditional sectors like industry, pharma, and food.