The election gave Wall Street a reason to buy almost everything, but chip stocks have lost nearly $4 trillion in value since early October. The Dow rose 3% on Wednesday, its best day since the April 9, 2025 rally, and roughly three of four S&P 500 stocks advanced. The PHLX Semiconductor Index fell 3% and entered a bear market, and since Nvidia's record close on Oct. 6, 29 major chip stocks have lost about $3.8 trillion, while the other 474 stocks in the S&P 500 and Nasdaq 100 gained about $1.5 trillion. Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez have pushed a moratorium on new AI data centers. The iShares Russell 1000 Value ETF is up about 26% this year, while the Growth ETF is roughly flat.
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Related tickers and likely impact
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 766.73 |
| Change that session | +1.64% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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