WHILE YOU WERE OUT
Briefings · Thursday, November 5, 2026
💼 5 PM · While you worked

Dow drops 1,833 points, Paraguay's president resigns, Trump keeps Hegseth

Wall Street's AI selloff, Paraguay's president steps down after a bank collapse, Trump stands by Pete Hegseth, Iran's claims of tanker fires in Hormuz, and a new 10-year sentence for Joshua Wong.

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STORY 1

Dow drops more than 1,800 points as AI and chip stocks sell offconfirmed

The Dow Jones Industrial Average fell 1,833.06 points, or 3.44%, to 51,523.06 on Thursday. The S&P 500 fell 4.36% and the Nasdaq 5.52%, while the PHLX Semiconductor Index lost 12.25%. Investors sold AI chip and data center stocks for a second day; reports cited worries that Democrats' win in Congress could bring regulatory hurdles and slow data center spending, and hedge funds locking in this year's gains.

Sources (3)
STORY 2

Paraguay's President Santiago Peña resigns after bank collapsedeveloping

Paraguay's President Santiago Peña announced his resignation Thursday in a video on X, days after the central bank seized Ueno Bank, a major digital lender with close ties to his government, and as lawmakers debated his impeachment. He apologized but did not accept responsibility for the crisis. Ueno reportedly counted more than 60% of Paraguay's adults as customers. Vice President Pedro Alliana is expected to take over.

Peña saysHe is stepping down to preserve stability and democratic institutions, that it "was never my intention to betray the trust" placed in him, and that his priority is depositors recovering their savings.
Critics sayOpposition lawmakers and dissidents in his own party sought his impeachment over the bank's collapse; Colorado Party leader Horacio Cartes said the party would not side with the theft of public, private and retirees' funds.
Sources (3)
STORY 3

Trump says he intends to keep Defense Secretary Pete Hegsethdeveloping

President Trump told ABC News on Thursday, "I have every intention to keep him," about Defense Secretary Pete Hegseth, while acknowledging calls from people unhappy with him. Republican Rep. Thomas Massie says he plans to call for a House vote on impeaching Hegseth unless he resigns. Some Republicans, including Vice President JD Vance, have blamed the Iran war for the party's midterm losses.

Trump saysHegseth is "doing a very good job" and he has "every intention" to keep him; he called Massie "a very bad guy" who is "very destructive."
Massie saysHe will not reintroduce his articles of impeachment only if Hegseth resigns, and calls his resolution "a much gentler version of what's coming when Dem's control Congress."
Sources (3)
STORY 4

Iran says tankers and a tugboat caught fire in the Strait of Hormuzdeveloping

Iran's Revolutionary Guard said Thursday that oil tankers and a tugboat caught fire in the Strait of Hormuz, including a tanker it said hit a mine while using what it called an "illegal passageway" and a supertanker halted by a fire. The claims have not been independently verified, and Iranian statements gave differing counts. Separately, the UK Maritime Trade Operations center said a tanker was hit by two projectiles north of Qatar. The strait normally carries about one-fifth of the world's oil.

Iran saysThe ships were using unauthorized routes; Supreme Leader Mojtaba Khamenei said there should be no inclination toward submission to the U.S.
The U.S. saysNo official U.S. comment on Thursday's incidents was reported; President Trump said Tuesday he had no immediate plans for new strikes but is "locked and loaded if we need to go."
Sources (3)
STORY 5

Hong Kong activist Joshua Wong sentenced to 10 more yearsconfirmed

A Hong Kong court sentenced democracy activist Joshua Wong, 30, to 10 more years in prison under the national security law after he pleaded guilty to conspiracy to collude with foreign forces. Authorities accused him of asking other countries to impose sanctions on Hong Kong and China. The judge set 13 years as a starting point and reduced it for his guilty plea.

China and Hong Kong sayChina's foreign ministry urged other countries to respect China's sovereignty and Hong Kong's legal system; Hong Kong authorities say the security law is crucial for stability and their actions were evidence-based.
Critics sayThe U.S. consulate "strongly condemns" the sentence and called for his release; Human Rights Watch called it "cruel and unjust."
Sources (2)
3 questions · 30 seconds

Quick quiz: did you catch it?

1. Which chip-heavy index lost about 12% on Wall Street on Nov. 5, 2026?

2. Paraguay's President Santiago Peña resigned after regulators seized which lender?

3. Which Republican congressman says he'll push a vote to impeach Defense Secretary Pete Hegseth?

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