Technology stocks went from celebration to rout within two sessions this month. On Wednesday, November 4, equities rallied after Democrats swept Congress in the midterm elections. By Thursday, the S&P 500 had fallen 4.36% and the Dow had lost 3.44%, while the Nasdaq Composite closed 5.52% lower, its worst day since April 2025. The drop pushed the tech-heavy index into correction territory, at least 10% below its October 6 record close.
The selling did not stop there, and the S&P 500 went on...