AI investment worry: world tech stocks sold off heavily; Nasdaq in correction

World stock markets fell sharply on Thursday (November 5). Qualcomm's weak revenue results and fears that a Democrat-controlled US Congress could slow artificial intelligence (AI) infrastructure investments triggered heavy selling in semiconductor stocks.

Wall Street's main indices declined; the Nasdaq confirmed a correction from its record peak.

The Philadelphia Semiconductor index recorded a 12.2 percent fall - its biggest single-day drop since April 2025.

The Dow Jones fell 3.4 percent, the S&P 500 4.4 percent and the Nasdaq Composite 5.5 percent.