# Nasdaq Plunges 1,421 Points in Tech Rout

> Tech stocks crash as Nasdaq drops 5.5% amid AI hype fears.
- Title: Nasdaq Plunges 1,421 Points in Tech Rout · Kiplinger
- Summary: Tech stocks crash as Nasdaq drops 5.5% amid AI hype fears. Nasdaq fell 5.5% to 24,315 after tech stocks sold off sharply on AI hype concerns.
- Keywords: nasdaq, dow jones, s&p 500, tech stocks, ai hype, stock market, market correction, qualcomm, applovin, vix, Kiplinger
- Source: Kiplinger — https://kiplinger.com/investing/stocks/nasdaq-plunges-1-421-points-in-massive-tech-rout-stock-market-today
- Published: 2026-11-05T21:15:03+00:00
- Read time: 1 min
- Topics: nasdaq, dow jones, s&p 500, tech stocks, ai hype, stock market, market correction, qualcomm, applovin, vix
## Wall Street Bloodbath
Stocks sold off sharply as market participants took profits on this year's biggest gainers.
## Nasdaq Plunges 5.5%
Nasdaq Composite dropped 5.5% to 24,315, more than 10% below its October 6 high of 27,599.79.
## Dow Jones Slides 3.4%
Dow Jones Industrial Average fell 3.4% to 51,523, its lowest level since early 2025.
## S&P 500 Plummets 4.4%
S&P 500 dropped 4.4% to 7,353, with all 11 sectors declining.
## Tech Stocks Lead Decline
Memory stocks Micron Technology and Sandisk fell sharply after AI hype drove prices up.
## Nvidia Slumps 9.3%
Nvidia dropped 9.3% on its worst day since the DeepSeek crash on January 27, 2025.
## Qualcomm Sinks 9.5%
Qualcomm fell 9.5% on weak earnings outlook and overexposure to mobile market concerns.
## AppLovin Soars 31%
AppLovin jumped 31% after beating earnings estimates with strong Q3 results.
## Key takeaway

Nasdaq fell 5.5% to 24,315 after tech stocks sold off sharply on AI hype concerns.