The Nasdaq 100 closed at 27,989.82 on Monday, November 2, 2026, down 1.39% and 10.4% below its October 6 record close of 31,224.47, the first close in correction of this decline. Chips led the drop: Marvell (NASDAQ:MRVL) fell 13% after agreeing to an all-stock deal for an optical-component maker valued at $115 billion including debt, Oracle (NYSE:ORCL) dropped almost 9% on plans to sell $20 billion of debt and stock, Intel (NASDAQ:INTC) lost 8.8%, and AMD (NASDAQ:AMD) fell 7.5%. The Dow rose 0.41% to 51,983.98 and seven of eleven S&P 500 sectors gained, while energy fell 3.97% as WTI crude dropped 7.3% to $96.51 on hopes for US-Iran peace talks. QQQ closed at $681.09, down 1.36%, just above its 200-day average of $679.82, and the article notes that a close below that level would suggest the selling has spread beyond chip stocks.
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: high
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 681.09 |
| Change that session | -1.36% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 752.10 |
| Change that session | -0.48% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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