Dow's 1,500-Point Rally Leaves Tech Behind

Daily video by Korra · 5 November 2026

Yesterday, the market left big tech for dead over the election results. Today, the rest of the market is throwing a fifteen hundred point party without…

Transcript

Yesterday, the market left big tech for dead over the election results. Today, the rest of the market is throwing a fifteen hundred point party without them. I'll explain why this growing split matters more than the headline rally in a second.

The Dow surged an incredible fifteen hundred points in yesterday's session as the dust settled on the Democrats taking control of Congress. That's a massive reversal from the initial tech-led selloff. The broad market, measured by the S and P 500, climbed right alongside it, up one and a half percent.

This rally is completely defying gravity. Overnight, the Bank of England hiked rates to four percent for the first time since the Iran war. But traders are ignoring central bank tightening and focusing entirely on the US political outcome. This is a politically-driven rally, plain and simple.

So why does this split matter? Because a rally without its leaders in tech is fragile. While the Dow soars, names like Google and Nvidia are still down over sixteen percent this month. The big money isn't convinced yet. I'm tracking this leadership gap on the 'Blue Wave Eases AI Capex Pressure' post at korra dot finance. Yesterday, the market left big tech for dead—and today's rally still hasn't revived them.

Information only, not investment advice.