US Stocks Split on Election Day as Nasdaq Rises and Dow Falls
Direct answer
US stocks split on Tuesday, November 3, 2026. The Nasdaq rose, the S and P 500 rose a little, and the Dow fell. Chip stocks helped lift the market, while Apple pulled the Dow lower after a weaker profit outlook.
What happened
The Dow Jones Industrial Average fell 197 points, or 0.38 percent, to close at 51,786.72. The S and P 500 rose 0.36 percent to 7,568.92. The Nasdaq Composite rose 0.83 percent to 25,372.01.
Apple fell about 1.9 percent after it gave a weaker than expected outlook for profit margins and reported disappointing iPad sales. Because the Dow gives more weight to higher priced stocks, a fall in Apple can pull the whole Dow down even when other stocks rise.
Chip stocks moved the other way. Nvidia rose 2.3 percent, Microsoft rose 2.7 percent, Micron rose 2.5 percent, Broadcom rose 3.1 percent, Intel rose 0.8 percent, and Advanced Micro Devices rose 3.7 percent, according to TradingView coverage of the close. That rebound in chip and technology stocks helped the Nasdaq finish higher.
The split session reversed the pattern from the day before. On November 2, the Dow rose while the S and P 500 and Nasdaq fell, as covered in our earlier post on the November 2 close: https://investclaritypath.com/us-stocks-close-mixed-november-2-2026/
Trading took place while Americans voted in midterm elections, with results still to come. A stronger than expected US jobs openings report also pushed Treasury yields higher during the day, which can put pressure on some large stocks. Sharecast reported the close with Apple dragging the Dow lower but chip stocks lifting the S and P 500 and Nasdaq higher: https://www.sharecast.com/news/market-report-us-close/us-close-apple-drags-dow-lower-but-sp-500-and-nasdaq-rise–24006750.html
Why it matters for beginners
A split day is a useful reminder that “the market” is not one single thing. Different indexes hold different stocks, so they can move in different directions on the same day.
It also shows how one large company can shape an index. Apple is a big part of the Dow, so a bad day for Apple can drag the Dow down even when many technology stocks rise.
For beginners, the lesson is simple: one day does not make a trend. Prices move on earnings, interest rate expectations, and news, and a single session often reflects a mix of all three at once.
What to watch next
Watch the midterm election results and how markets react once the outcome is clearer. Watch the next US inflation and jobs reports, because they can change expectations for interest rates. Watch whether chip stocks keep recovering or give back their gains, since they have driven much of the recent market swing.
FAQ
Why did the Dow fall while the Nasdaq rose?
The Dow fell mainly because Apple dropped about 1.9 percent. The Nasdaq rose because chip stocks such as Nvidia, AMD, and Broadcom gained, and those stocks carry more weight in the Nasdaq.
Does a split day mean the market is in trouble?
No. A split day just means different parts of the market moved in different directions. It is normal, especially on days with big company earnings and major news such as an election.
What should a beginner do after a day like this?
Nothing rushed. A single day is a poor reason to buy or sell. Beginners are usually better served by sticking to a long term plan and learning how indexes, earnings, and interest rates work, rather than reacting to one close.
