What happened?
Global stock markets have come under renewed selling pressure.
Just as markets were trying to recover from October’s correction, another wave of selling hit US stocks on 5 November.
The Dow Jones Industrial Average fell 3.4%, the S&P 500 declined 4.4%, and the Nasdaq Composite dropped 5.5%. The Philadelphia Semiconductor Index fell even more sharply by 12.2%.
The selling subsequently spread across Asia on 6 November, with South Korea’s Kospi falling as much as 8.6%, Japan’s Nikkei declining around 5.1%, and Taiwan’s stock market dropping more than 8% during intraday trading.
The latest decline comes amid growing concerns over AI infrastructure spending, higher bond yields and political uncertainty following the US midterm elections.
In our November Monthly Brew, we highlighted how higher bond yields and questions about the returns…
