Global Markets Today, November 6, 2026: Asia, Wall Street Selloff Weighs On Sentiment, Oil Rebounds After Sharp Fall; Indian Markets May Open Lower 

Mumbai, November 6: Asian markets tumbled on Friday, tracking a sharp selloff on Wall Street as concerns over tighter regulation of artificial intelligence (AI), slowing investments in data-centre infrastructure and stretched technology valuations triggered a global risk-off mood. The weakness in global equities is likely to weigh on domestic sentiment, with Indian benchmark indices expected to open lower after a six-session winning streak and their strongest single-day rally in seven months. 

The Nifty 50 and Sensex had surged 2.4 percent and 2.6 percent, respectively, on Thursday, supported by easing crude oil prices and strong foreign institutional investor (FII) inflows. 

Asia Selloff 

The selloff was particularly pronounced across Asian technology-heavy markets. South Korea’s Kospi more than 8% to trigger a circuit breaker and was last down 4.14 percent while Japan’s Nikkei 225 dropped 5.3 percent. Taiwan’s benchmark Taiex also plunged over 8 percent and was last down 3.2% as semiconductor stocks came under intense selling pressure. 

Among individual stocks, Samsung Electronics fell nearly 10 percent, SK Hynix declined 11.7 percent and Taiwan Semiconductor Manufacturing Company (TSMC) shed 8.5 percent. SoftBank also slumped 11 percent. 

The weakness followed a bruising session on Wall Street on Thursday.  

Wall Street Bruised 

The Nasdaq Composite plunged 5.52 percent, registering its biggest single-day decline in 19 months and entering correction territory, while the S&P 500 fell 4.36 percent and the Dow Jones Industrial Average shed 3.44 percent. 

The Philadelphia Semiconductor Index tumbled more than 12 percent, wiping out approximately $3 trillion in market value from S&P 500 companies. 

The selloff gathered momentum after Democrats’ sweeping victory in the US midterm elections raised concerns about tougher scrutiny of AI infrastructure investments and potential restrictions on data-centre construction. Nvidia plunged more than 9 percent, while Qualcomm fell sharply after reporting weaker-than-expected smartphone chip sales. 

Oil Prices Rebound After Sharp Selloff 

Crude oil prices recovered some ground on Friday after plunging sharply earlier in the week on expectations that the Democrats’ victory could increase pressure on the Trump administration to seek an end to the Iran war. 

Brent crude futures rebounded towards $99 per barrel after falling below the $100 mark for the first time in two months. US West Texas Intermediate (WTI) crude traded around $91 per barrel. Despite the recovery, oil remained substantially below levels seen earlier in the week. 

The decline in crude prices had provided considerable relief to global markets, easing concerns over energy-driven inflation and supporting bond markets. For India, a major oil importer, cheaper crude also offers support to the rupee, inflation outlook and corporate margins. 

How Indian Markets May Open Today 

Despite the sharp correction across global markets, the impact on Indian equities could be relatively contained, given their limited direct exposure to the semiconductor-heavy AI trade. 

Lower crude prices, improving foreign investor flows and the possibility of easing geopolitical tensions remain supportive domestic factors. However, after six consecutive sessions of gains, investors may use the global weakness as an opportunity to book profits. 

Market participants will also track developments in crude oil, the rupee and institutional flows for further cues, with volatility likely to remain elevated. 

Source

• Exchanges