Market Close: Worst Day For Stocks In 19 Months, Apple To Sell $7B In Debt, Wendy's Rejects Buyout Bid 11-5-2026

0:02I'm Peter Schacknow, CNBC. Investors will be happy to close the books on today's stock market action, which saw the largest losses for all three major averages since April of last year. The Dow tumbled 1 ,833 points to close at 51 ,523. The S &P 500 took a 4.4 % hit, about 335 points, and the Nasdaq cratered 5.5%, or 1 ,422 points. The worries that brought the market down to today relate directly to the results of Election Day and the possible impact on AI-related spending. Torsten Slock is chief economist at Apollo Global Management.

0:39Peter Schacknow: GDP growth is still expected in aggregate to be around 2%, but the growth rates that had been expected, at least from the consensus for the next 18 months when it comes to CAPEX and the data center spending, had been more in the range of 4 % to 5%. So now the big question becomes, how much should that downward remission be? I do think that most people are now expecting that But GDP growth when it comes to capex spending is just going to be more modest than what we thought just a few days ago. Ironically, the worries that brought the overall market down may actually translate into a benefit for a select few companies, according to Rob Siechen, CEO of New Edge Wealth.

1:14I'm not going to tell you it's not a big deal because it is. The AI of Philadelphia just got harder. But nobody voted to make compute less scarce. Microsoft's Azure is growing at 48 percent. They're capacity constrained, not demand constrained. And when new capacity gets harder to build, existing capacity becomes more valuable. All 11 S &P sectors were down today, with tech registering the biggest loss. The sector with the smallest loss was consumer staples. A number of well-known stocks hit all-time highs today, even as the market was taking an overall drubbing. Among them, Coca-Cola, MasterCard, Eli Lilly, Travelers, and Hilton Worldwide.

1:57Apple is planning a$7 billion debt offering. According to a Bloomberg report, the money would be used for general business purposes. Wendy's was a rare winner in today's trading session. The stock was up 3.8 % after the restaurant chain rejected a$1.4 billion buyout offer from Tri-Anne Fund Management and its partners. Wendy's says the offer undervalued the company. Another stock rising today was Peloton Interactive, up 3.7 % after the fitness equipment maker reported better-than-expected quarterly revenue. Peter Schachnow, CNBC.

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