Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Spotify.franckreporter/iStock via Getty ImagesUp for a challenge? Test your knowledge on the biggest events in the investing world over the past week. Take the latest Seeking Alpha News Quiz and see how you stack up against the competition.Wall Street’s major indexes went from cheerful optimism after the 2026 midterm elections to experiencing their worst day in over a year and a half. All three major indexes saw severe week-to-date losses from an ongoing technology selloff and policy fears related to AI.The Democratic Party gained a majority in both the House of Representatives and the Senate, and Congress is now expected to heavily limit the president’s agenda.Semiconductors and software were among the most problematic sectors, with giants such as Micron Technology (MU), Dell Technologies (DELL), Lam Research (LRCX), Intel (INTC), and Advanced Micro Devices (AMD) losing as much as 25% this week.Among top companies reporting this week were Apple (AAPL), Palantir (PLTR), Advanced Micro Devices (AMD), Arm Holdings (ARM), and QUALCOMM (QCOM).In addition, the tech-heavy Nasdaq Composite (COMP:IND) entered correction territory on Thursday, and the Dow (DJI) declined so much that day it erased all gains from the post-midterms rally. All three averages had their worst one-day losses since April 2025.On the economic calendar, October U.S. ISM Services growth ticked down as new order growth slowed, and U.S. nonfarm payrolls jumped by 165,000 in October, more than doubling what the markets expected.The probability of a 25-basis-point increase in interest rates during the FOMC’s December meeting is now 77.1%, according to the CME FedWatch Tool.Oil prices declined by a large margin this week. Crude oil futures (CL1:COM) were 13.1% lower at $90.50, while Brent (CO1:COM) was 13.7% lower at $97.94 per barrel.For the week, the S&P (SP500) lost -2.7%, while the tech-heavy Nasdaq Composite (COMP:IND) was -3.4% lower, and the blue-chip Dow (DJI) dropped -0.9%. Read a preview of next week's major events in Seeking Alpha's Catalyst Watch.The U.S. economy has seen strong growth and low unemployment for the last three years, but there's one worrying trend that has persisted – hiring is still fairly muted. According to the JOLTS report released this week, the number of job openings was little changed in September. But October's nonfarm payrolls data showed that hiring picked up. How long will the "low-hire, low-fire job market" last? Read more.Seeking Alpha's Calls Of The WeekVICI Properties (VICI): $2B Says Mr. Market May Be Wrong.Sandisk (SNDK) Declines, But RPO Tells A Different Story.Cal-Maine Foods (CALM): Looking Past Egg Price Collapse.This Is Why I'm Not Worried About AMD (AMD) Anymore.SOR: Boring Is Beautiful - Time To Go Long On This CEF.Alphabet (GOOG): One Quarter Was Noise, Two Is A Trend.Bloom Energy (BE) Is A Hold As Negativity Grows Louder.Sell Intel (INTC) - The Smart Money Is Now Underwater.Don't Get Excited About Microsoft’s (MSFT) Positive FCF.Baidu (BIDU) Q3 Preview: Growing Disintermediation Risk.Weekly MovementU.S. IndicesDow -0.9% to 51,286. S&P 500 -2.7% to 7,377. Nasdaq -3.4% to 24,579. Russell 2000 -2.1% to 2,754. CBOE Volatility Index +32% to 25.64.S&P 500 SectorsConsumer Staples +1%. Utilities -0.7%. Financials +1.1%. Telecom +2.3%. Healthcare -0.1%. Industrials -2.8%. Information Technology -6.9%. Materials -0.4%. Energy -11.9%. Consumer Discretionary +2.7%. Real Estate +1.8%.World IndicesLondon -0.5% to 10,674. France +2.1% to 8,139. Germany flat at 25,820. Japan -9.3% to 57,435. China +1.4% to 3,649. Hong Kong +5.1% to 24,482. India +8.8% to 81,028.Commodities and BondsCrude Oil WTI -13.2% to $90.34/bbl. Gold +4.6% to $4,079.5/oz. Natural Gas +3.6% to 3.003. Ten-Year Bond Yield -0.2 bps to 4.859.Forex and CryptosEUR/USD -0.18%. USD/JPY +0.6%. GBP/USD -0.3%. Bitcoin -2%. Litecoin -5.9%. Ethereum -0.4%. XRP -6.9%.Top S&P 500 GainersAppLovin (APP) +71%. Fiserv (FISV) +26%. IDEXX Laboratories (IDXX) +23%. The Mosaic (MOS) +22%. Airbnb (ABNB) +16%.Top S&P 500 LosersLumentum Holdings (LITE) -36%. Seagate Technology Holdings (STX) -28%. Marvell Technology (MRVL) -28%. Western Digital (WDC) -28%. Sandisk (SNDK) -27%.Where will the markets be headed next week? Current trends and ideas? Add your thoughts to the comments section.