DJ Shaw November 12, 2026 Stocks tied to the AI buildout took the hardest hit after the U.S. midterm elections. The PHLX Semiconductor Sector Index fell 12.2% on November 5, according to a November 6 report from T. Rowe Price. The S&P 500 dropped 4.4% that day, while the Nasdaq Composite Index lost 5.5%. Key Takeaways: That selloff wasn't a one-day shock, global equity portfolio specialist Jennifer Martin wrote in the report. Chip stocks had already dropped 18% from September 30 to the pre-election close, s ...