Tesla and SpaceX Each Drop Over 9% as Nasdaq Falls 5%

Tesla and SpaceX each fell more than 9% on Thursday, November 5, 2026, as the Nasdaq, an index of tech companies, dropped 5% amid a sell-off in computer-chip makers. Business Insider reported the two lost over $100 billion combined at the open. Whether this reflects the index or company news will take more than one day to tell.