Wall Street selloff wipes out Dow's 1,833-point plunge

Wall Street suffered a severe selloff on Thursday, November 5, with the Dow Jones plunging 1,833 points (-3.44%) to close at 51,523.06, erasing the previous day's gains. The Nasdaq fell 5.52% into correction territory, down over 10% from its October high, while the S&P 500 dropped 4.36%, wiping out nearly $3 trillion in market value. Semiconductor and AI stocks like Nvidia and Qualcomm led losses amid fears of stricter regulations from the new Congress. Federal Reserve officials hinted at possible further rate hikes, worsening sentiment. The sharp reversal followed Wednesday's 1,569-point rally, with investors now focused on upcoming US employment data and the impact of Washington's political shifts.