Wall Street Slides on Thursday: S&P 500 Drops 4.4% to 7,354 After Democratic Midterm Win and AI Spending Worries

The S&P 500 closed at 7,353.73 on Thursday, November 5, 2026 (14 Aban 1405), down 334.89 points, or 4.4%, from Wednesday's close of 7,688.62. IRNA, citing the Washington Post, reported that the main US stock indices fell sharply after the Democrats' midterm win and investor worries about the future of artificial-intelligence spending. The paper wrote that opposition to data-centre expansion and to the activities of big technology firms has grown.

Donald Trump wrote on Truth Social that the market had one of the worst days in its history and blamed the Democrats; that assessment is his and has not been checked against independent data. In Sahmino's series the index now sits about 6.3% below its 52-week high of 7,844.52 set on October 6, 2026.