Meta shares slide about 6% in broad AI-linked tech selloff

Meta fell sharply on Thursday, 5 November 2026, with the stock trading near $590 by late morning Eastern time, roughly 6% lower and about $102 billion of market value erased. The decline was part of a wider sell-off in AI-linked large caps, which the Nasdaq 100 fell about 5% to 5.4% on, as investors questioned whether the political outcome of the recent midterm elections could slow data center expansion. For long-horizon holders, the move reflects sector-level sentiment toward AI capital spending rather than a company-specific disclosure, and it follows a stretch in which Meta's shares had already been pressured by its equity issuance, negative free cash flow, and rating-agency concerns.

1. Meta traded near $590.05 in a Benzinga snapshot updated by 10:55 a.m. ET on 5 November 2026, down 6.3%.
2. Benzinga estimated the market value lost by Meta in that session at about $102.1 billion, with market capitalization near $1.51 trillion.
3. The Nasdaq 100 was reported down about 5.4% in the same session; the VanEck Semiconductor ETF fell about 10.4%.
4. Benzinga attributed the sell-off to a post-midterm rotation out of AI stocks and concern that the Democratic sweep could slow data center expansion.
5. Earlier in the week, Meta had been pressured by its roughly $25 billion common-stock sale, a planned at-the-market program of up to $60 billion, and S&P's negative outlook on its AA- rating.