INTERNATIONAL MARKETS · 5 NOVEMBER 2026 · Radar Inversión
Technology shares are selling off on Wall Street. The Nasdaq leads the losses as semiconductor and AI-related companies face questions about investment, demand and profitability.
In a 5 November Reuters update, the Nasdaq Composite was down 5.2%, the S&P 500 3.4%, the Dow Jones 2.2% and the Philadelphia Semiconductor Index nearly 11%. These were intraday figures.
Chart · Size of intraday declines
Dow Jones: 2.2%
S&P 500: 3.4%
Nasdaq: 5.2%
Semiconductors: 11.0%
Source: Reuters, 5 November 2026. Intraday losses are shown as positive magnitudes for comparison.
AI investment faces closer scrutiny
Major technology companies are spending billions on chips, data centres, high-performance networks and power supply. Investors want clearer evidence of how much of that spending will translate into sales, margins and cash flow. When financing is costly, even technically promising projects can fall short if the return fails to cover the risk and cost of capital.
What is putting pressure on prices
Qualcomm was down nearly 11% in the Reuters update after handset chip sales missed expectations, reinforcing concern over demand. Political and community opposition to data centres in some US states creates uncertainty over permits, power supply and construction schedules. Losses in large technology companies can pull down broad indices and global portfolios. Bond yields and credit spreads can show whether the adjustment is spreading to access to capital.
Does this amount to a financial crisis?
A sell-off alone cannot establish a systemic crisis. Watch for persistent damage to bank liquidity, lending, productive investment and companies’ ability to pay. A correction generally refers to a 10% decline from a recent peak. It describes prices and does not establish a recession.
Why it matters for Paraguay
Lower global risk appetite could raise required returns in emerging markets and increase the cost of infrastructure and productive projects. Global demand for dollars could coincide with local pressure on the guaraní, but it does not establish Wall Street as the sole cause. A reassessment of returns on data centres and AI infrastructure may shift decisions and expansion timelines, including in energy-advantaged markets. A prolonged global slowdown could affect trade and exports, but one session is insufficient to forecast it.
What to watch
Radar Inversión will follow selling outside technology, credit and financing costs, and company earnings. An index rebound alone would leave questions about investment returns open.
Radar’s analysis: Investors are reassessing how much to pay for expected AI returns. For Paraguay, the issue is whether the repricing changes financing for actual projects.
