The AI sell-off compared to well-known stock market crashes

The S&P 500 has fallen 6% from its record as of November 2026, a relatively modest decline compared to historical crashes—only 16 of 56 drops reaching 6% since 1928 progressed further. Technology stocks suffered more severely, with the Nasdaq down 11% and US chip stocks down 36%, matching their Covid-era lows. Recovery timelines vary widely; after the dot-com bubble, the S&P 500 took 7 years to return to its previous peak, while chip stocks required 18 years.