Stock market today: why ASX fell on 7 Nov

Published 7 November 2026 at 5:15 am · 10 sources · 10000+ searches today

As of 7 November 2026, Australians are searching “stock market today” because Wall Street’s sharp overnight sell-off fed straight into the ASX. The S&P/ASX 200 fell on Friday after US investors dumped technology and artificial-intelligence stocks, even though the local index still finished the week higher.

Key facts

6 Nov 2026: ASX 200 fell 44.3 points, or 0.49%, to 9,020.8.
5 Nov 2026: Nasdaq entered correction territory after a heavy tech sell-off.
The US rout erased about US$2.5 trillion, or A$3.6 trillion, from Nasdaq firms.
BHP fell 2.3% and Rio Tinto 2.0% as copper prices eased.
RBA raised the cash rate to 4.85% on 3 Nov 2026, the highest since 2008.

What happened in the market

As of 7 November 2026, the main reason people are checking the stock market today is that US markets plunged overnight on Thursday, 5 November. Investors sold technology and AI shares, and the Nasdaq fell into correction territory while the S&P 500 closed down 4.4%.

That move flowed into Australia on Friday, 6 November. The S&P/ASX 200 opened down as much as 115 points, or 1.27%, before trimming losses to finish down 44.3 points, or 0.49%, at 9,020.8. The All Ordinaries ended lower as well, down 60.5 points, or 0.66%, to 9,144.7.

Why investors were selling

The main concern is that the Democratic Party’s stronger performance in the US midterm elections could lead to tighter regulation or local restrictions on AI data centres. That has raised doubts about how quickly the infrastructure build-out behind the 2026 rally can continue.

The US sell-off was concentrated in the same type of stocks that had been powering gains for much of the year. The Nasdaq-listed group lost an estimated US$2.5 trillion, or about A$3.6 trillion, in combined market value in one session.

How the ASX reacted

On the local market, miners and technology stocks were among the weakest sectors. Megaport finished down 3.89%, Codan fell 2.9%, and Goodman Group dropped 3.2% on concern about slower US data-centre construction.

Mining heavyweights also slipped, with BHP down 2.3% and Rio Tinto down 2.0% as copper prices fell and investors assessed the possible policy shift in the US. Banks provided some support, with the four major banks rising between 0.6% and 2.7%, while Woolworths gained 1.8%.

What to watch next

Despite Friday’s fall, the ASX 200 was still up about 1.2% for the week, its second straight weekly gain, and it has risen in five of the past six weeks. That is one reason analysts are not treating one difficult session as proof of a broader bear market.

As of 7 November 2026, the market is also digesting the Reserve Bank’s 3 November rate increase to 4.85%, the highest official cash rate since 2008. With Wall Street volatile and local rates higher, traders may keep reacting to headlines around AI regulation, US policy and global risk sentiment.

Frequently asked

Why is the stock market down today in Australia?

The main trigger is a sharp overnight sell-off on Wall Street, led by technology and AI shares. That pushed the ASX lower on 6 November 2026, especially miners and technology names.

How did the ASX 200 close on 6 November 2026?

The S&P/ASX 200 fell 44.3 points, or 0.49%, to 9,020.8. The All Ordinaries also finished lower, down 60.5 points, or 0.66%, to 9,144.7.

Did the ASX still rise for the week?

Yes. Even after Friday’s drop, the ASX 200 was up about 1.2% for the week. It was the second consecutive weekly gain and its fifth rise in the past six weeks.

Is this the start of a bear market?

That is still uncertain. Analysts cited in the coverage expect continued volatility, but they do not treat one bad session as proof of a broader bear market.

Sources

Researched automatically from live news and written by Simpledot's AI; facts are limited to what the sources above report as of the published time. Spot an error? Tell us.