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Investment Updates · Daily Market Pulse

AI chips crash, fear gauge jumps

Friday, 6 November 2026 Risk-off

A day after the post-election rally, an AI-chip rout wiped it out: the Nasdaq fell 5.5% (its worst day since April 2025), the S&P 500 fell 4.4%, the chip ETF fell 11.2% and the VIX jumped 70% to 28. Treasuries and gold held up, and the Bank of England raised rates to 4%.

−5.5%Nasdaq, worst since April 2025
−11.2%Chip ETF in one day
+70%VIX fear gauge, now 28
4.0%Bank of England hikes

Markets

Where markets closed

S&P 5007,353.7−5.2% 3 mo
7,4007,6007,800 10 Aug5 Nov
Nasdaq24,315−8.6% 3 mo
26,000 10 Aug5 Nov
Straits Times Index5,296.3−8.0% 3 mo
5,4005,6005,800 11 Aug5 Nov
Gold4,099.7−7.2% 3 mo
4,0004,500 10 Aug5 Nov
WTI crude oil90.88+10.7% 3 mo
90.00100 10 Aug5 Nov
US 10-year yield4.84%+14 bp 3 mo
4.75%5.00%5.25% 10 Aug5 Nov
MarketLevelDay1 monthYear to date
S&P 5007,353.7−4.4%−5.7%+7.4%
Nasdaq Composite24,315−5.5%−11.7%+4.6%
Straits Times Index5,296.3+0.5%−5.6%+14.0%
Hang Seng Index24,797+3.7%+2.1%−3.3%
US 10-year Treasury yield4.84%−6 bp−44 bp+67 bp
US dollar index101.6+0.1%−0.6%+3.4%
Gold4,099.7+0.7%−1.0%−5.6%
WTI crude oil90.88+3.1%+3.0%+58.3%

Closing levels before 7am Singapore time on Friday, 6 November 2026. Source: Yahoo Finance.

Sectors

Which parts of the market moved

US sectors, gold and Treasuries: one dayClose of 5 Nov · ETF price changeRoseFell

Leadership rotates

When one part fell, another held up

US markets: chips vs goldThu 5 Nov 2026RoseFell

Chips, still +24.3% this year, lost a ninth of their value in a day, while gold and long Treasuries (+0.2%) edged up. Consumer staples (−0.75%) and utilities (−0.7%) barely moved.

AIA funds: technology vs health care1 month to 4 Nov 2026RoseFell

A gap of almost 28 points in one month. For the year they are close: Global Technology +14.8%, Health Care +16.8%. These prices are before the 5 Nov tech rout.

AIA funds: emerging markets vs India1 month to 4 Nov 2026RoseFell

For the year it is the other way round: Emerging Markets +13.2%, India −11.0%.

This is why a portfolio is reviewed, not just chosen: leadership changes, and regular rebalancing keeps the mix in line with your goals.

Lessons from the market

What today teaches

Judge a portfolio on the bad day

On 5 Nov 2026 US technology shares had their worst day since April 2025: the Nasdaq fell 5.5% and chip stocks 11.2%. On the same night gold rose 0.8% and long-term US Treasuries 0.2%. Over the month to 4 Nov, the AIA Global Technology Fund fell 13.9% while the AIA International Health Care Fund rose 13.9% and the AIA Elite Balanced Fund rose 1.2%. The ranking picture shows the same thing: last month's leaders are not this month's.

The principle

A portfolio's job is not only to grow in good times but to fall less in bad ones. Different parts take turns holding up, so the mix needs checking and rebalancing regularly.

The numbers
  • Nasdaq Composite −5.5% on 5 Nov 2026, its worst day since April 2025
  • US chip ETF (SMH) −11.2%, gold (GLD) +0.8%, long US Treasuries (TLT) +0.2% on 5 Nov 2026
  • AIA Global Technology Fund −13.9%, AIA International Health Care Fund +13.9%, AIA Elite Balanced Fund +1.2% in the month to 4 Nov 2026

Sources: cnbc.com · finance.yahoo.com · finance.yahoo.com · finance.yahoo.com · AIA fund prices

Borrowed money turns a dip into a forced sale

On 5 Nov 2026 the fear gauge (VIX) jumped about 70% to 28, its highest since March. Traders described the selling as a liquidation: investors who had borrowed, or held leveraged products, had to sell whether they wanted to or not. The business news did not change much that day: the selling was about politics and nerves. Investors without debt could choose to wait or add in stages. Those with debt had no choice.

The principle

Market falls hurt most when you are forced to sell. Keeping borrowing low and cash for near-term needs aside lets you sit through a fall instead of selling at the bottom.

The numbers
  • VIX +69.7% to 28.18 on 5 Nov 2026, its highest since 31 March 2026
  • Nvidia −9.3% on 5 Nov 2026, about US$450 billion of market value lost in a day
  • S&P 500 −4.4% on 5 Nov 2026, after +1.6% the day before

Sources: cnbc.com · cnbc.com · finance.yahoo.com