Nasdaq futures rebound as chip stocks recover from nearly $3 trillion market rout

AI-linked stocks found buyers before the U.S. market opened on November 6, 2026. Nasdaq-100 futures rose 1.48% at 4:14 a.m. Eastern time, while Nvidia gained 3.6% in premarket trading. The rebound followed a technology-led selloff that erased nearly $3 trillion from S&P 500 companies’ market value, Reuters reported.

Chipmakers lead the early recovery

AMD, Intel, Broadcom and Micron Technology rose between 5% and 8.3% before the opening bell, following steep losses in the previous session. Nvidia’s advance came after its largest one-day decline since January 2025, when the emergence of Chinese AI model DeepSeek unsettled Wall Street. These were premarket moves, not regular-session results.

The buying extended beyond chip suppliers. Data-center operators IREN and Applied Digital recovered from deep losses, as did AI cloud providers CoreWeave and Nebius Group. GE Vernova and Constellation Energy also bounced, bringing utilities and equipment suppliers exposed to the AI buildout into the recovery.

The broader futures market was less uniform. At the same 4:14 a.m. snapshot, S&P 500 futures gained 0.39%, while Dow futures fell 0.66%. Technology’s stronger early showing followed an especially damaging Thursday: the Nasdaq Composite suffered its deepest one-day decline in 19 months, entered correction territory and was heading for a fourth consecutive weekly loss.

We view Thursday's selloff as reactionary, not a fundamental reset, driven by a collision of concerns around AI spend, policy and inflation.

Jane Gibbons, equity strategist at Jefferies, speaking to Reuters

Election results put the buildout under scrutiny

Reuters linked Thursday’s selling to concerns following Democrats’ midterm election victory earlier in the week. Investors feared that Democratic control of Congress could bring tougher AI regulation. Victories in some key data-center states added to concerns that construction could slow, putting the pace of infrastructure expansion at the center of the market reaction.

Those were fears about possible policy changes, not an enacted AI restriction. The distinction matters to the selloff’s immediate trigger: investors were reassessing how the election might affect future expansion. Optimism about the sector’s rapid growth had helped propel stock markets to record highs earlier in the year.

Market anxiety had risen sharply alongside the stock declines. The CBOE Volatility Index, Wall Street’s closely watched gauge of investor unease, recorded its biggest one-day jump in about 19 months on Thursday. It eased slightly on Friday to 26.07, offering another sign of calmer trading alongside the early gains in chip stocks.

Inflation leaves another test ahead

AI policy was not the only pressure on Thursday’s market. A jump in crude oil prices added fears of energy-driven inflation and future interest-rate increases by global central banks. Brent crude fell 0.7% on Friday, reversing some of that immediate pressure as technology shares pointed higher before the U.S. open.

The October U.S. jobs report, due at 8:30 a.m. Eastern time, was the next scheduled catalyst for interest-rate expectations. Traders were pricing in a more than 65% chance of a December rate increase, according to the CME FedWatch Tool cited by Reuters. That left another economic test ahead of the early stock-market rebound.