Global equity markets suffered one of their sharpest declines in months on Thursday, November 6, 2026, as the Nasdaq slid 5.5 per cent, pushing the index into correction territory and nearly 12 per cent below its October record high. the rout erased roughly $3 trillion from the S&P 500's market value and close to $2.5 trillion from the Nasdaq 100. The S&P 500 fell 4.4 per cent and the Dow Jones Industrial Average dropped 3.4 per cent, while the Philadelphia Semiconductor Index plunged 12.2 per cent.

Among the hardest-hit stocks, Nvidia lost 9.3 per cent and AMD tumbled 17.3 per cent. CoreWeave shares fell around 10 per cent and GE Vernova dropped 7.5 per cent, while Amazon and Alphabet each slipped 2.2 per cent. Samsung Electronics and SK Hynix also posted steep declines in Asian trading, and Qualcomm came under pressure following weaker-than-expected earnings.

Analysts attributed the selloff to growing investor concern over the enormous capital expenditure commitments technology companies have made to build out artificial intelligence infrastructure, warning that returns on this spending may take longer than markets had anticipated to materialise.

The sharp swing in Western markets carries weight for investors in the UAE as well, given the close links between Gulf financial markets and global investment trends. A significant share of regional capital is allocated to funds and equities tied to global technology, meaning the correction is being closely watched by portfolio managers and private investors across Dubai and the wider region.