Democrats 'sweep both chambers' as Dow surges over 3% on the day, AI concept stocks broadly decline

BlockBeats news, November 5th, according to data from the BIT stock platform, U.S. stocks closed on Wednesday with the Dow up 3.10%, the S&P 500 up 1.65%, the Nasdaq up 0.97%, and the VIX down 20.26% to 16.61.

SpaceX (SPCX) fell 3.81%. Optical communications stocks broadly declined, with Ciena (CIEN) down 9.28%, Credo (CRDO) down 9.55%, Lumentum (LITE) down 7.85%, Applied Optoelectronics (AAOI) down 7.35%, and Coherent (COHR) down 5.98%.

Neocloud stocks weakened, with Cipher Digital (CIFR) down 19.95%, IREN down 11.24%, CoreWeave (CRWV) down 9.90%, Nebius (NBIS) down 6.67%, Astera Labs (ALAB) down 4.43%, and AST SpaceMobile (ASTS) down 4.12%.

Storage stocks pulled back across the board, with Seagate (STX) down 8.13%, Sandisk (SNDK) down 7.91%, Micron (MU) down 7.00%, Western Digital (WDC) down 6.77%, and SK Hynix U.S. ADR (SKHY) down 5.12%.

Most semiconductor stocks moved lower, with Marvell (MRVL) down 7.08%, ARM down 5.28%, Intel (INTC) down 3.77%, ASML down 3.60%, Nvidia (NVDA) down 3.17%, TSMC (TSM) down 2.24%, and Broadcom (AVGO) down 2.00%, while AMD rose 1.01%; Super Micro (SMCI) fell 5.70%.

Crypto-related stocks diverged, with BitMine (BMNR) up 5.85%, Strategy (MSTR) up 5.09%, Coinbase (COIN) up 4.16%, and Robinhood (HOOD) up 2.02%, while MARA fell 4.05%.