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Summary
Nvidia (NVDA) closed at $200.13 on November 4, 2026, down 3.17%, while the Nasdaq Composite rose 1.44%.
Financial media tied the drop to a chip sell-off after Democrats' midterm wins, including the Texas governor's race, raised concerns about slower AI data center construction.
The stock now sits 17.77% below its 52-week high, with its fiscal third-quarter results call set for November 17, according to the company.
Gotrade News - In the latest Nvidia stock news, Nvidia (NVDA) closed at $200.13 on Wednesday, November 4, 2026, down 3.17%, while the broader US market rallied. Financial media tied the drop in Nvidia stock to a chip sell-off after Democrats' midterm wins, including the Texas governor's race, raised concerns about slower AI data center construction.
NVDA Trading Data
Data
Value
Closing price
$200.13
Change
-$6.56 (-3.17%)
Previous close
$206.69
Open
$203.50
Day range
$199.68 to $206.79
Volume
149.0 million shares
30-day average volume
103.0 million shares
52-week range
$164.27 to $243.37
Market cap
$4.82 trillion
Regular-session close on Wednesday, November 4, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since November 5, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Nvidia opened at $203.50, below the previous close of $206.69, and traded between $199.68 and $206.79 before finishing just $0.45 above the day's low. Volume reached 149.0 million shares, 44.74% above its 103.0 million-share average.
The move ran against the market. The Nasdaq Composite rose 1.44% to 25,736.51, the S&P 500 gained 1.58% to 7,688.62 and the Dow Jones Industrial Average climbed 3.03% to 53,356.12, leaving Nvidia 4.61 percentage points behind the Nasdaq. The US 10-year Treasury yield eased 5.8 basis points to 4.89%.
Chip stocks carried the losses. Micron (MU) fell 7.00%, Intel dropped 3.77%, TSMC (TSM) slipped 2.24% and Broadcom lost 2.00%, while AMD edged up 1.01%. Large tech platforms moved the other way, with Apple (AAPL) up 5.31% and Microsoft up 6.68%. Nvidia now sits 17.77% below its 52-week high and 21.83% above its 52-week low.
The sources reviewed for this article named no Nvidia-specific cause for the drop; financial media tied it to the November 3 midterm election results. According to CNBC, AI data center stocks came under pressure after Democrats won big, and Democrat Gina Hinojosa, who has proposed an immediate moratorium on state data centers, won the Texas governor's race. CNBC cited Wells Fargo estimates that Texas holds 27% of planned US data center gigawatts.
Per Bloomberg, as published by Yahoo Finance, Democrats won control of the House and Senate, and the Democrats who won the Ohio and Georgia governorships have also called for data center moratoriums. GLJ Research's Gordon Johnson told Bloomberg that about 13 gigawatts of Texas data center capacity is immediately exposed.
As reported by Seoul Economic Daily, chip stocks were the exception to the broad rally: chipmakers already generating profits were seen as facing constraints on earnings, while hyperscalers with weak cash flow were seen as likely to benefit if projects are delayed. The same report said Nvidia lost its place as the world's most valuable company to Apple.
NVDA Stock Analysis: Supporting Factors and Risks
Supporting Factors
Bloomberg reported that bullish earnings from AMD and Super Micro Computer had sparked a rally in AI infrastructure stocks before the election results.
Jefferies' Jonathan Petersen told Bloomberg that tighter Texas rules on grid costs, water use and tax incentives would likely raise development costs rather than materially restrict the state's pipeline.
GLJ Research's Gordon Johnson told Bloomberg that Texas "projects with power, permits and steel keep going."
Risks
Texas holds 27% of planned US data center gigawatts, per Wells Fargo figures cited by CNBC, and its governor-elect has proposed an immediate moratorium.
PIMCO's Libby Cantrill told Bloomberg that the AI buildout will face more delays and concessions even without statewide moratoriums.
Bloomberg reported that Democrats are expected to scrutinize Silicon Valley interests that were largely spared in the first two years of the Trump administration.
Nvidia's next scheduled event is its fiscal third-quarter 2027 earnings report, with a results conference call set for Tuesday, November 17, at 5 p.m. Eastern, according to the company's release.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
