Nasdaq Falls 5.5% Into Correction, Chip Index Drops About 12% as Investors Weigh Data Center Curbs; Kospi Closes Down 6%
U.S. tech and chip stocks had their worst day in more than a year on Thursday, two days after Democrats won both chambers of Congress and a Texas governor's race in which the winner ran on a pause on new data centers. Asian chip stocks followed on Friday as markets waited for the October jobs report.
U.S.
Judge Chutkan Pauses Work on Trump's 250-Foot Arch for 14 Days, Less Than an Hour After 8-4 Planning Commission Approval
Ruling on a request from D.C. and Virginia, the judge said in a 33-page opinion that the challengers are likely to show the administration skipped a congressional approval step required for new monuments. The administration says a 1925 law already authorizes the arch and that it has security value.
Massie Plans to Force House Vote on Impeaching Hegseth the Week of Nov. 9; Hegseth Vows to Fight as Tillis and Bacon Criticize Him
After Tuesday's midterm losses, several Republicans questioned the Pentagon chief's leadership of the Iran war. Trump says he intends to keep him, and CBS reports he has been asking advisers whether Hegseth should stay.
House Democrats Name Trump Family Businesses, Including World Liberty Financial, Among First Targets for Subpoenas When They Take Control in January
Rep. Jamie Raskin, in line to chair the Judiciary Committee, and Rep. Robert Garcia, in line to chair Oversight, list probes of Trump family ventures, the Justice Department and FBI, and corporate mergers; Republicans and the White House call it a "witch hunt."
Newsom Moves to Commute All 548 California Death Sentences; 382 Need State Supreme Court Approval
The outgoing governor says everyone on California's death row would instead serve life without parole; prosecutors and victims' groups oppose the move, and one group has pledged to fight it in court.
Democrats Flip Seven Senate Seats to Hold at Least 54; House Gains Range From 29 to 34 Across Outlet Tallies as of Nov. 5, With Alaska, Mississippi and About 40 House Races Uncalled
Both chambers have been called for Democrats, but the counts are not final yet. The original headline's 'House gain of 25' matches no tally we found, and the exact size of the majorities depends on races still being counted.
Trump Says He Has No Immediate Plans to Strike Iran After Democrats Are Projected to Win Both Chambers of Congress
The president told reporters U.S. forces are "locked and loaded" but "there may be no reason" to attack. Democrats say they will use their new majorities to force a vote on ending the war, which a presidential veto could still block.
N.C.
Stein Calls for Compromise and Says GOP Should Avoid 'Power Grabs' in Lame-Duck Session; N.C. Supreme Court Hears His Appointment-Power Cases Nov. 10
The state Supreme Court has scheduled 2.5 hours of arguments in two cases over laws that limit Gov. Josh Stein's appointment powers. The cases were set before Tuesday's election, in which Democrats won the state House and broke the Republican supermajority in the state Senate.
Earls Wins Re-election to N.C. Supreme Court, 58.85% to 41.15% in Unofficial Returns; Court Stays 5-2 Republican
Democratic Justice Anita Earls defeated Republican Sarah Stevens. The result does not change who sits on the court, and the same seven justices will hear Gov. Josh Stein's challenge to laws limiting his appointment powers on Nov. 10.
Democrats Win N.C. House and End GOP Senate Supermajority in Unofficial Results; Stein Asks Lawmakers to Skip Lame-Duck Session
Unofficial counts show Republicans keeping a 26-24 Senate edge, which leaves neither party able to override vetoes alone. Gov. Josh Stein called for compromise and said a post-election session is 'not necessary.' Republicans scheduled those sessions back in August.
Ojeda Unseats NRCC Chair Hudson 51.1% to 48.9% as Democrats Win Five Republican-Held N.C. U.S. House Seats
Unofficial results show Democrats won the 6th, 9th, 11th, 13th and 14th districts. Democrat Chuck Hubbard leads Rep. Virginia Foxx by 99 votes in the uncalled 5th District, and the 3rd District is also too close to call.
Cooper Defeats Whatley 58.7% to 39.1% for North Carolina's U.S. Senate Seat; Democrats Lead in Six Republican-Held U.S. House Districts in Unofficial Results
Democratic Rep. Don Davis held NC-1 by about 2 points over Laurie Buckhout, Democrats won seats held by Reps. Richard Hudson and Tim Moore, NC-5 is headed toward a likely recount, and voters approved a photo voter ID amendment.
N.C. Voters Approve Three Constitutional Amendments: Photo ID for Mail Voters, 3.5% Income Tax Cap and a Local Property Tax Limit, Each With About 60% in Unofficial Results
Unofficial counts show the photo ID measure near 60% and the income tax cap near 62%. The state board is set to certify results Nov. 24, and lawmakers still have to write the property tax limit itself.
Finance
U.S. Oil Falls 8.3% to About $88 a Barrel as Midterm Results Feed Hopes for an Iran Deal
Brent and WTI crude each fell more than 8% on Wednesday, Nov. 4, as traders bet the election result raises the odds of a deal with Iran; prices recovered slightly on Thursday, and Washington and Tehran still had not agreed on Qatar's plan to reopen the Strait of Hormuz.
Dow Gains 1,569 Points, Its Best Day Since April 2025, as Stocks Rise and Oil, Yields and the Dollar Fall the Day After Democrats Win Congress
The S&P 500 rose 1.58% on Wednesday as Democrats took both chambers and President Trump said he accepted the results. Sources disagree on how broad the rally was, and Friday's October jobs report is next.
Economists Expect 59,000 to 65,000 Jobs in Friday's October Report as Futures Price About 80% Odds of a December Fed Rate Hike
The October jobs report is due Friday, November 6, and forecasters expect unemployment to hold at 4.2%. Citi says a lasting reopening of the Strait of Hormuz could move the Fed from rate hikes toward cuts, but futures still point to a December hike.
AMD Shares Rose Roughly 5% to 9% After Hours Tuesday on Q3 Revenue of $13.38 Billion and a Fourth-Quarter Guide of About $17 Billion
Data center sales rose 97% while client and gaming revenue fell 8%. The report came after a chip-stock selloff last week, and Qualcomm, Arm and AppLovin report Wednesday.
Dow Rises 0.41%, Nasdaq Falls 1.07% Before Midterms; Apple and Palantir Shares Drop After Topping Estimates
A 7.63% drop in Brent crude lifted the Dow on Monday while tech stocks fell. Apple and Palantir both beat quarterly estimates, but their shares slid after hours and before Tuesday's open on worries about Apple's profit margin and Palantir's contract growth.
Binance Reports $4.7 Billion in Net Withdrawals After Reopening Following $6.3 Billion Hack the FBI Attributes to North Korea
Binance says it covered most of the stolen crypto with its own money. Reports differ on whether that share is 90% or 95%, and its proof-of-reserves report is due Tuesday, Nov. 3 (UTC), after a delay.
World
Iran's IRGC Says It Downed Two More U.S. MQM-170 Drones Over Qeshm Island, for a Claimed Total of Six
No one has independently confirmed the Thursday claim. CENTCOM, the U.S. command, flatly denied an earlier Iranian claim about the same drone model, made Oct. 29.
Zelensky Holds 90-Minute Call With Witkoff and Kushner as U.S., Russia and Ukraine Set Nov. 10-11 Abu Dhabi Talks; Brussels Meeting on Security Guarantees Held
Washington describes the Abu Dhabi round as working-level talks on post-war security, de-escalation and humanitarian issues, the first three-way meeting since February. None of the sources reviewed links the talks to any specific change in U.S. sanctions.
Russia Fires 76 Missiles and 289 Drones at Ukraine Overnight, Kyiv Says; Strikes Hit Power Plants and a Kharkiv Hospital
Ukraine says most drones and cruise missiles were shot down but few ballistic missiles were. Russia says it hit energy sites that power arms plants. The strike came a week before U.S.-brokered talks in Abu Dhabi and days after Washington cleared a Patriot interceptor sale that may not deliver until the 2030s.
Polish President Nawrocki Enters Constitutional Tribunal After a Judge Elected by Parliament Suspends Its Chief; Police Detain Protesters Outside
Prime Minister Donald Tusk's government says it is restoring an independent court, while President Karol Nawrocki and the opposition Law and Justice party call the suspension an illegal takeover. The fight centers on whether five judges who never took their oath before the president can lawfully sit on the court.
Houthis Claim Six Attacks on Saudi Oil Sites and Airports; Saudi-Led Coalition Reports Intercepting Missiles
None of the six claimed hits has been independently confirmed; the claims came three days after Saudi, Pakistani and Turkish officials met Iranian leaders in Tehran, and Brent crude traded at $115.74 early Friday.
Iran Says Four Tankers Hit Mines on Hormuz Routes It Calls Unauthorized; U.S. Says the Main Shipping Lanes Are Clear of Mines
Iran has not named the ships, and no independent source has confirmed the four mine strikes. A separate tanker, the Louise 1, was confirmed hit by explosives that a small boat attached to its hull off Oman.
Analysis
Unbiased, evergreen deep-dives on the bigger questions — not breaking news.
What Fauci's Released Diary Documents About the U.S. COVID-19 Response — and What It Leaves Unresolved
A 1,141-page personal diary released by Sen. Rand Paul's committee is roughly one-third routine administrative logging; a minority of entries bear directly on contested questions, and a few conflict with contemporaneous public statements.
Eight Months of Mamdani: What New York's Record Actually Shows, and What It Cannot Yet Show
A claim-by-claim audit of what Zohran Mamdani has delivered, how New Yorkers judge it, and what the evidence does and does not license anyone to conclude about the rest of the country.