Nasdaq 100 Down 11% From October High, With Chip and AI Names Leading the Drop
As seen on the 24/7 Wall St. homepage on November 11, 2026.
An 11% slide off the October high puts the index at correction's doorstep, with the damage concentrated in chip and AI infrastructure names.
The Nasdaq 100 has dropped 11% since its October high. Some of the biggest losers: 📉 $LTE 📉 $INTC 📉 $SNDK 📉 $NBIS https://t.co/emrUa7ayAq
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An 11% decline from a recent peak is the conventional threshold for a market correction, and the Nasdaq 100 is now sitting right at that line after sliding from its October high. The move puts the index in territory that historically draws attention from both institutional and retail investors watching for a floor.
The damage has not been spread evenly across the index. The names flagged as the biggest losers skew heavily toward semiconductor and AI infrastructure companies, sectors that had also been among the strongest performers on the way up, which makes their reversal notable.
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Concentrated selling in high-momentum names like these tends to reflect a broader reassessment of risk appetite rather than company-specific news. When the leaders of the prior rally become the heaviest losers in a pullback, it often signals that investors are trimming their most crowded positions first.
For anyone tracking these individual stocks, the index-level decline gives important context. A stock falling alongside an 11% index drop is behaving very differently from one falling while the broader market holds steady, and that distinction matters when sizing up whether the move represents a dislocation or a reset of elevated valuations.