Tesla and SpaceX Each Fall More Than 9% as Nasdaq Drops 5%

Tesla and SpaceX shares each fell more than 9% on Thursday, November 5, 2026, as the Nasdaq plunged 5% in a chip-stock selloff. Business Insider reported the two companies lost more than $100 billion in combined market value at the open. Whether the drop reflects the index or company news will take more than one session to tell.