On 6 November 2026, the Nikkei Average ended trading at 57,434.77, down 3,643.13 points from the previous day, marking the third-largest decline on record. Declines in AI and semiconductor stocks weighed on the index as a whole, and the index briefly fell below 60,000 during trading.
On this day, the Nikkei Average ended trading at 57,434.77, down 3,643.13 points from the previous day, for a decline of 5.96%. It fell for the 5th consecutive day in a difficult session in which the number of advancing stocks fell sharply, with approximately 98% of all stocks declining.
Declines in AI and semiconductor-related stocks were said to have made a particularly significant contribution to the sharp fall. In Japan, Advantest, Tokyo Electron, SoftBank Group and Kioxia were among the related stocks that fell sharply. This is viewed as having intensified downward pressure on the index as a whole.
The turmoil in US markets was a factor, with the Nasdaq Composite falling more than 5% and the SOX Index declining by approximately 12% on 5 November. Concerns about profit-taking spread amid a sense that AI investment had become overheated, spilling over into the Japanese market. Expectations for AI, investment costs and regulatory risk were cited as three interlocking sources of market anxiety.
The article does not conclude that the AI bubble has burst, but points out that uncertainty over recouping the profits generated by AI investment, along with factors including data centers, semiconductor demand and regulatory developments, could affect share prices going forward. It organizes the Nikkei Average's movements around differing causes: periods of gains driven by expectations for AI and periods of declines in which the ability to recoup investment was called into question.