US stocks suffered their sharpest one-day decline in months on Thursday, November 5, as investors pulled back from the chipmakers, cloud providers and power companies that have driven much of this year’s market gains.

The S&P 500 fell 4.4% to close at 7,353.73, its biggest single-day drop since the April 2025 “Liberation Day” tariff announcement, according to the Associated Press. The decline wiped out the index’s gains since the midterm elections.

Just a day earlier, the Dow Jones Industrial Average had posted its best performance after a midterm election since 1982, rising 3%.

On Thursday, however, the Dow lost 1,833 points, or 3.4%, while the Nasdaq Composite dropped 5.5% to 24,315.…