Dow Rises 214 Points as Nasdaq Falls 1.1 Percent in Chip Selloff to Open November

Wall Street closed mixed on Monday, November 2, 2026, as the Dow Jones Industrial Average rose while the S and P 500 and the Nasdaq indices fell to start November. The Dow rose 213.67 points, or 0.41 percent, to close at 51,983.98. The S and P 500 fell 38.67 points, or 0.51 percent, to 7,541.40. The Nasdaq Composite fell 272.68 points, or 1.07 percent, to close at 25,164.32, and the Nasdaq 100 fell 395.03 points, or 1.39 percent, to 27,989.82. The Russell 2000 fell 5.97 points, or 0.21 percent, to 2,805.88. Investopedia reported the same close in rounded form, with the Nasdaq Composite down 1.1 percent, the S and P 500 down 0.5 percent and the Dow up 0.4 percent.

Chip shares lead the fall

Selling was heaviest in semiconductor and AI related shares. The Philadelphia Semiconductor Index fell 3.3 percent in preliminary closing reports. Intel dropped 8.8 percent to close at 59.97 dollars, Micron fell 5.7 percent, and Marvell Technology declined 12.7 percent to 171.41 dollars. Oracle fell 8.8 percent, and Lumentum fell 18.59 percent to 684.40 dollars.

Investopedia reported that chip stocks were the big decliners on the day, that the iShares Semiconductor ETF fell nearly 4 percent, and that Intel fell another 9 percent after plunging nearly 30 percent on Friday. Marvell dropped about 13 percent following news that it is purchasing Lumentum in a deal that values the optical components maker at 115 billion dollars, Investopedia reported.

Big tech splits

The largest technology names split. Amazon rose 2.20 percent to 245.63 dollars and Tesla rose 1.00 percent to 403.82 dollars. Microsoft fell 2.83 percent to 507.12 dollars, the largest percentage decline among those names in the closing figures reported by InvestingLive.

Oil falls, gold rises

WTI crude oil futures fell 8 percent to 95.80 dollars a barrel amid hopes for diplomatic efforts to end the Iran war, and the S and P 500 Energy index dropped 4 percent. Gold futures rose 1.5 percent to 3,955 dollars an ounce. Bitcoin traded at 76,700 dollars, down from a high earlier in the day of around 78,500 dollars. The yield on the 10 year Treasury was 4.92 percent.

What comes next

The close was a third straight day of steep declines for the Nasdaq, Investopedia reported, after the index recorded its biggest one month decline since March 2025 in October. Attention after the close turned to earnings from Apple and Palantir and to Tuesday's US midterm elections, InvestingLive reported.