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The $3 Trillion Thursday
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On Thursday 5 November 2026 the Nasdaq fell 5.5% and chip stocks about 11%, the worst day since the tariff crash of April 2025. Roughly $3 trillion left US stocks in a single session.
I recorded this the same evening, from my seat as someone who builds AI products. I walk through why local votes against data centres set off the sell-off, why the market was already fragile after a month of negative cash flow and expensive credit, what the demand for AI still looks like, and the best, middle…
The skinny
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