The Trading Day · Friday, November 6, 2026

AI Trade — Kospi Halted, Nikkei Enters a Bear Market After US Chip Stocks Lose 12%

Asia is where the AI trade shows first each morning, and this morning it took the full weight of Thursday's sell-off in New York. Korea's Kospi fell as much as 8.8% to 4,911.28, under 5,000, and set off a circuit breaker that stopped trading for 20 minutes (CNBC, Bloomberg). It closed down 6.0% at 5,059.69. Japan's Nikkei fell 6.0% to 57,434.77, 20.6% under its 52-week closing high, the line usually called a bear market. Taiwan fell as much as 9.0% and closed down 4.5%. SK Hynix lost 10.4%, SoftBank 10.8%.

The Morning 10

1 AI Trade in Asia — Kospi trips a circuit breaker, Nikkei and Taiwan in bear markets
2 Asia's AI Bellwethers — SK Hynix −10.4%, SoftBank −10.8%; Advantest recovers from −16.4% to −5.0%
3 Europe's AI Infrastructure — chip makers fell 7% to 9% on Thursday while the STOXX 600 lost 0.4%
4 Thursday in New York — S&P 500 −4.4% to its low of the day, Nasdaq in correction, chips −12%
5 Why It Fell — the midterms, a Texas call to stop data centers, and funds selling the year's winners
6 After Hours — JFrog +22%, Cloudflare +14%, Airbnb +11%; Natera −16%, DraftKings −22%
7 Futures, Bonds, Gold, Bitcoin, Oil — Nasdaq futures +0.8%, TLT above 81.50, Bitcoin 75,400
8 AI Indices — Rubin −9.9%, down 19.2% in a week; HALO −2.8%, AW40 −1.0%
9 Earnings Record — five grades at Friday's close, four new windows from Thursday
10 Today — October jobs report 13:30 UTC; grades at the close; Taiwan's steadying measures

The full Morning 10 →

On the tape

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