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U.S. tech and AI-related stocks sold off sharply on November 5, pushing the Nasdaq down 5.5% and into correction territory, as investors questioned whether heavy AI spending will pay off and worried that Democratic midterm wins and opposition to data centers could slow expansion.
California Gov. Gavin Newsom announced plans to replace all 548 death sentences in the state with life imprisonment without parole, with many commutations requiring the California Supreme Court’s approval.
Repeated bomb threats have disrupted commercial flights across Europe, prompting diversions, military escorts, and security searches, with no explosives found so far and investigations continuing.
President Donald Trump said he intends to retain Defense Secretary Pete Hegseth amid Republican Rep. Thomas Massie’s plans to reintroduce impeachment articles and Democrats’ plans for renewed Pentagon oversight when they assume control of Congress in January.
Democrats’ midterm wins will put them in control of the U.S. Senate on January 3, giving them the power to slow or block President Trump’s judicial nominees, including any nominee to a Supreme Court vacancy during the remainder of his term.
CVS Health plans to split into two public companies in the first half of 2028, spinning off its retail pharmacy business as CVS Pharmacy while keeping Aetna health insurance and Caremark’s drug-benefits business together.
Democrat James Talarico defeated Republican Ken Paxton for a Texas U.S. Senate seat as Democrats also won other statewide races, breaking the party’s Senate-election drought dating to 1988 and challenging decades of Republican dominance.
Homeland Security Secretary Markwayne Mullin said deportations will continue after Democrats won Congress, while Democrats prepare investigations into immigration enforcement and consider legislative restrictions that could face a presidential veto.
A New York state appeals court threw out homeowners’ lawsuit against the rollout of New York City’s pied-à-terre tax on high-end second homes, allowing the city to keep moving forward while other legal challenges continue.
Mississippi’s U.S. Senate race between Republican incumbent Cindy Hyde-Smith and Democrat Scott Colom remains unresolved, with Colom narrowly ahead and thousands of ballots awaiting processing in a state without a standard recount process.
