Stocks are sharply lower at midday

SPY is down 3.6% and QQQ down 5.3% at 12:31 PM ET. AppLovin is up 28.1% after the company reported quarterly results on Wednesday (8-K Item 2.02). SPY's premarket move (+0.06%) has extended: −3.6% at 12:31 PM ET. Energy (−0.5%) leads the sector funds and Technology (−6.6%) trails them. Of the Morning's 4 tests, 3 are holding so far and 1 is still open. After the close, Monster Beverage, Airbnb, Cloudflare, and EOG Resources are listed to report.

SPY is down 3.6% and QQQ down 5.3% at 12:31 PM ET versus the prior close. IWM is down 4.1%.

Sector funds range from Energy (−0.5%) to Technology (−6.6%); 0 of 11 are higher.

Leaders: Energy (XLE) −0.5%; Consumer Staples (XLP) −0.6%; Utilities (XLU) −0.7%.

Laggards: Technology (XLK) −6.6%; Consumer Discretionary (XLY) −4.1%; Industrials (XLI) −3.4%.

31 of the 225 large companies Blockhaven tracks are higher and 193 lower. This is not market-wide breadth.

• APP AppLovin is up 28.1% after the company reported quarterly results on Wednesday (8-K Item 2.02). It was up 22.4% premarket, so the move has extended since the open. Its Q3 FY2026 results show operating margin widening to 78.2%. That is 34.8 points ahead of the Technology fund (XLK, −6.6%).
• SNAP Snap is down 14.9% after the company reported quarterly results on Wednesday (8-K Item 2.02). That is 11.4 points behind SPY (−3.6%).
• TSLA Tesla is down 11.1%. No verified catalyst identified. That is 7.0 points behind the Consumer Discretionary fund (XLY, −4.1%).
• SNDK Sandisk is down 17.6%. No verified catalyst identified. That is 10.9 points behind the Technology fund (XLK, −6.6%). Western Digital, another hardware maker, is also down 16.6%.
• WDC Western Digital is down 16.6%. No verified catalyst identified. That is 10.0 points behind the Technology fund (XLK, −6.6%). Sandisk, another hardware maker, is also down 17.6%.

The Morning edition set 4 tests; each is checked against this observation, and the session is not over.

• Still open: Whether Qualcomm stays below Wednesday's $173.19 close. No QCOM reading was available at this observation.
• Holding so far: Whether QQQ stays behind SPY after the open. QQQ −5.3% against SPY −3.6% at 12:31 PM ET: a gap of 1.8 points, QQQ behind.
• Holding so far: Whether SPY holds below Wednesday's $766.81 close. SPY was at $739.51 at 12:31 PM ET, 3.6% below the $766.81 level the Morning named.
• Holding so far: Whether Unity Software stays above Wednesday's $42.46 close. U was at $47.95 at 12:31 PM ET, 12.9% above the $42.46 level the Morning named.

The VIX stood at 24.35 at 12:15 PM ET, up 7.74 points on the day. This is Cboe's delayed quote, not a close.

Treasury publishes one official yield reading a day, after the session; Blockhaven does not report an intraday yield, so rates are not described here.

What remains for the rest of the session.

1. After the close: Monster Beverage, Airbnb, Cloudflare, and EOG Resources are listed to report: Results after the close reach the market after the regular session, so they bear on the next open; timing is a calendar listing.

• The session is not over: a midday reading can change by the close, and nothing here is a forecast of it.
• Moves with no verified catalyst are reported, not explained.
• Blockhaven's Macro read is computed once a day and is not recomputed intraday, so it is not used here.

Observation 12:30 PM ET on Thursday; data through 12:31 PM ET. Prices are delayed last trades from Nasdaq's public quotes, not closes.

This edition was compiled and published automatically from public sources under Blockhaven's standing editorial policy for intraday editions, at 12:31 PM ET on Thu, Nov 5, 2026, exactly as generated; an editor did not review it individually before release. It describes what has happened and is not a forecast or investment advice.

1. Nasdaq, Nasdaq market activity (quotes), accessed 2026-11-05
2. U.S. Securities and Exchange Commission, SEC EDGAR company filings, accessed 2026-11-05
3. U.S. Bureau of Labor Statistics, BLS release schedule, accessed 2026-11-05
4. Cboe Global Markets, Cboe delayed quotes, accessed 2026-11-05