⚡ Today in History

On November 6, 1860, Abraham Lincoln won the presidency with just 39.8% of the vote in a four-way race. The election split the nation within five months. Yesterday, two days after Democrats swept Congress, the Nasdaq erased $2.5 trillion in its worst session since April 2025.

Top News

S&P drops 4.4%, Nasdaq falls 5.5% as $2.5 trillion vanishes $2.5T WIPED

A broad selloff swept Wall Street on Thursday, wiping $2.5 trillion from the Nasdaq. Investors fear a Democratic Congress will slow or halt AI data center growth. The S&P 500 fell 4.36% to 7,353.73 and the Nasdaq sank 5.52% — the worst day since the April 2025 tariff shock.

DeSantis: Midterm loss is “extinction-level event” for GOP

Florida Governor Ron DeSantis said Wednesday that the losses were “close to an extinction-level event for Republicans.” Democrats flipped seven Senate seats and ousted at least 14 House incumbents on Tuesday.

Joshua Wong sentenced to 10 more years in Hong Kong

A Hong Kong court sentenced activist Joshua Wong, 30, to 10 years on Thursday. The charge: conspiring with foreign forces under Beijing’s national security law. The ruling is Wong’s second conviction under the statute.

October jobs report lands this morning — 59–65K expected

The Bureau of Labor Statistics releases the October jobs report at 8:30 AM ET on Friday. Economists expect 59,000 to 65,000 new jobs and a 4.2% unemployment rate, after September’s weak 29,000.

Anthropic IPO in doubt after AI selloff 84% → 60%

Odds of Anthropic — the AI company behind Claude — going public by month’s end fell from 84% to 60% on Thursday. The company had planned to start its IPO roadshow next week, targeting a valuation above $1.5 trillion.

World

Two tankers and a tugboat catch fire in Strait of Hormuz 3 VESSELS

Iran’s Revolutionary Guard said two tankers and a tugboat caught fire in the Strait of Hormuz on Thursday. At least one blaze was caused by an undersea mine. The waterway carries about 20% of the world’s daily oil supply.

All Arab parties endorse Eisenkot for Israeli prime minister

In talks with President Isaac Herzog on Thursday, both Arab-led parties backed Gadi Eisenkot to form Israel’s next government. The parties hold 19 seats in the Knesset, Israel’s 120-seat parliament, giving Eisenkot the majority he needs.

Trump concedes war cost GOP, threatens to “finish the job”

Trump told The Wall Street Journal that the Iran war was “a part of” the losses and said he “did the right thing.” On Wednesday, Trump warned he would “finish the job very easily” if Iran rejects a nuclear deal.

Oil rebounds as Hormuz shipping fires persist

WTI crude futures climbed to about $91 per barrel on Friday morning after Wednesday’s sharp 9% drop. Brent crude traded near $98 as Thursday’s Hormuz fires reminded traders the route is still dangerous.

New Zealand heads to polls Saturday in tight election

New Zealand voters go to the polls Saturday in a race too close to call. The contest pits the governing National Party against the opposition Labour Party and will decide whether PM Christopher Luxon keeps power.

Politics

Jeffries: Democrats focused on “affordability,” not impeachment 250+ SEATS

Hakeem Jeffries said Wednesday that no member of his caucus has raised impeaching President Trump. Jeffries, in line to become the first Black House Speaker, called the 250-plus seat majority a mandate to lower costs.

Nithya Raman defeats Karen Bass for Los Angeles mayor

Los Angeles Mayor Karen Bass conceded to City Councilmember Nithya Raman on Thursday, two days after the election. Raman, a former urban planner who won her council seat in 2020, ran on housing and homelessness reform.

Mississippi Senate: Colom leads by 1,764 votes — no recount law 1,764 VOTES

Democrat Scott Colom leads Republican Senator Cindy Hyde-Smith 49.0% to 48.9% with 96% of the vote counted. Mississippi law has no provision for recounts, so the current margin — now 1,764 votes — will stand once all ballots are in.

Scalise and Jordan compete to lead House Republicans

Speaker Mike Johnson confirmed he will not seek the top GOP post in the next Congress. Steve Scalise of Louisiana and Jim Jordan of Ohio are now both running. The Republican caucus lost at least 14 seats on Tuesday.

After losses, Trump signals willingness to work with Democrats

President Trump told CNBC on Wednesday he can work with Democrats on “many more things than people understand.” The remark struck a conciliatory tone, one day after Trump blamed gas prices and the Iran war for the party’s losses.

Markets

Dow drops 1,833 points as chip stocks lead worst day since 2025 -1,833 PTS

Thursday’s selloff hit every sector. The Dow fell 3.44% to about 51,523, erasing the entire post-election rally. The VanEck Semiconductor ETF, which tracks chipmakers, plunged 11.2%.

VIX — Wall Street’s fear gauge — surges 60% to 26.56

The CBOE Volatility Index hit 28.09 on Thursday, its highest in seven months, before closing at 26.56. The 60% intraday spike was the VIX’s largest one-day jump since April 2025.

Nvidia falls 9.3%, AMD drops 17.3% in deepening chip rout

Nvidia closed at $181.60, down 9.3% in one session. AMD fell 17.3%, Intel lost 10.3%, and data-center firm CoreWeave dropped nearly 10%, extending a two-day AI stock rout.

Gold climbs to $4,122 as investors flee to safe havens

Gold rose to about $4,122 per ounce on Thursday as money moved out of tech stocks. Bitcoin traded near $76,000, down about 5% on the day on broad risk-off selling.

AppLovin bucks the crash: stock jumps 31% on record earnings

AppLovin, an AI-driven marketing platform, surged 31% on record revenue of $2.18 billion — up 55% from a year ago. The company posted a 66% net income margin and expanded its buyback program by $3.2 billion.

Entertainment

Prosecutors call Guardians pitchers “cheaters” at fraud trial

Federal prosecutors in Brooklyn called Cleveland Guardians pitchers Emmanuel Clase and Luis Ortiz “cheaters” during opening statements Wednesday. Both have pleaded not guilty to conspiracy charges in a pitch-rigging case and are on unpaid leave.

GTA VI hits 7.71 million preorders — $751M before launch $751M

Grand Theft Auto VI has sold about 7.71 million preorder copies worth $751 million, per Sensor Tower. The game launches November 19 on PS5 and Xbox Series X|S. Analysts expect it to be the biggest entertainment launch in history.

John Frieda, hairstylist to Princess Diana, dies at 75

Celebrity hairstylist John Frieda, who styled Princess Diana, Jacqueline Onassis, and Madonna, died November 3 at 75 after a long illness. Frieda also built the global hair care brand bearing his name.

Wild Horse Nine opens with Rockwell, Malkovich, Buscemi

Wild Horse Nine, a new dark comedy starring Sam Rockwell, John Malkovich, and Steve Buscemi, opens in US theaters on Friday. The cast also includes Tom Waits and Parker Posey.

NFL heads to Madrid: Bengals face Falcons in Spain on Sunday

The Cincinnati Bengals face the Atlanta Falcons in Madrid on Sunday at 9:30 AM ET. The Bengals enter off last week’s 43–36 overtime win over Tennessee. The Falcons are looking to rebound from a shutout loss to Tampa Bay.