On November 5, 2026, the Invesco QQQ Trust, which tracks the Nasdaq-100, recorded approximately $80 billion in trading volume, the highest since its launch 27 years ago. The Direxion Daily Semiconductor Bull 3X Shares, known by the ticker SOXL, also set a record with roughly $25 billion changing hands. At its lowest point in the session, the Nasdaq-100 fell as much as 5.9%, erasing more than $2 trillion in market capitalization. The unusual surge in trading across major technology ETFs and other funds was interpreted by Bloomberg analyst Eric Balchunas as a sign of panic and rapid repositioning by institutional investors.
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