New York: The US stock market witnessed a sharp sell-off on November 5, with approximately $2.3 trillion in market value wiped out during the first hour of trading, reflecting growing concerns among investors.
The heavy selling pressure affected major US stocks, particularly technology, artificial intelligence (AI) and semiconductor companies. Major market indices, including the Nasdaq, came under pressure as investors reacted to market uncertainty.
The decline highlighted growing concerns over stock valuations, technology sector performance and investor confidence.
The reported $2.3 trillion loss represents a decline in the combined market capitalisation of listed US companies, rather than actual cash withdrawals from the market.
The sharp market movement has drawn attention to the volatility of US financial markets and the risks associated with sudden changes in investor sentiment.
Source: Market reports
