Stock Market Today Updates: Wall Street experienced a rollercoaster ride on February 5, 2026, as investors withdrew from scorching tech stocks and other riskier assets, including the price of Bitcoin. Earnings surprises for Alphabet Inc and Qualcomm Inc, along with a series of layoffs and decreased enthusiasm for AI, did not help the major stocks as they closed on a lower note. The Nasdaq fell 351 points or 1.5% to 22,905, its biggest downturn in three sessions since spring 2025 and the S&P 500 fell 0.5% to 6,883. However, the Dow Jones managed a nice push and went up by 260 points or 0.5%, reaching a fresh high of 49,501, as investors shifted money into safer places. Volatility in the market sent the VIX soaring up by 3.6% to 18.64.
U.S. Market Snapshot
U.S. stocks extended losses with tech dragging the pack. Here’s the close:
|
Index |
Closing Value |
Point Change |
% Change |
|
Dow Jones |
48,902.39 |
-598.91 |
-1.21% |
|
S&P 500 |
6,788.53 |
-94.19 |
-1.37% |
|
Nasdaq |
22,487.73 |
-416.85 |
-1.82% |
Estimated composite decline based on session volume.
Dow Jones
The Dow Jones Industrial Average closed at 48,902.39 after shedding 598.91 points, which was down 1.21% and erased gains from last week. Classic blue chips like Travelers and JPMorgan took hits, but the index fared better than its tech peers, indicative of defensive buying in industrial stocks as layoff fears weighed on sentiment.
Nasdaq
Nasdaq was affected the most as it reduced by 416.85 points or 1.82% and eventually closed at 22,487.73. It marked the culmination of the worst three-day loss of over 4%, the biggest since April 2025 and investors sell technology heavy-weights such as chip-makers and software companies after Qualcomm issued a weakened forecast.
S&P 500
The S&P 500 index tempered by 1.37% with specifically, the index lost 94.19 points to trade at 6,788.53 a second straight day of declines. Four out of five stocks lost ground, but energy and technology stocks felt the brunt, losing 2.1% and 2.4%, respectively while, healthcare stocks increased by 0.8%, an indication of the sector being more solid and stable.
NYSE
The stock turnover on the NYSE surged by 15% over and above what is normal, reflecting panic selling, as this led to a decline in the composite stocks by close to 1.45% and the retail and financial stocks also did not fare very well, while pharma stocks overall performed quite well, with Merck stock higher by 2.81% amidst
Bitcoin Drops Below $70,000
Bitcoin fell below $70,000 for the first time since Donald Trump’s 2024 reelection, after falling as low as $68,113, a drop of 6.7% and it has now broken a major level of support with crypto treasuries such as MicroStrategy down around 6.5% today ahead of the earnings report. If this trend continues, $60,000 is next on the cards.
Gold & Silver Prices Record Highs
The precious metals were irregular with gold dropping 2.58% to an ounce costing $4,836.28 after the metal traded near its recent peak of over $5,625 the previous week while silver lost 15.35% to an ounce costing $74.66. In this case, the inflation concerns and buying risk-off were seen. However, 10-year U.S. Treasury yields rose sharply to 4.24%.
January Layoffs Surge to Highest Level Since 2009
The number of US-based layoff announcements recorded 108,435 by Challenger, Gray & Christmas, representing the highest recorded since 2009 during crisis lows. The numbers represent a 118% increase over the prior year while simultaneously rising 205% over December 2025. Even hiring plans recorded historical lows. Recession worries were heightened with an unexpected increase in jobless claims.
Alphabet Hit Stocks In Early Trade
Alphabet declined intraday by 4-8% or $307, with the price fluctuating below $307 as it projected $185 billion of 2026 AI capex outlays, an increase over previous years. The forecast scared traders looking for quick profits, adding further to the Magnificent Seven sell-off with Amazon down 4.6 percent and Microsoft 3.6 percent. According to Mark Haefele of UBS, “Investors are no longer looking for just spending, they want revenues.”
Top Gainers Today
- Merck & Co (MRK): +3.32 to $121.65 (+2.81%) – Pharma resilience shines.
- Travelers Companies (TRV): +5.32 to $300.52 (+1.80%) – Insurers draw defensive flows.
- Johnson & Johnson (JNJ): +4.03 to $238.50 (+1.72%) – Steady healthcare play.
- Amgen (AMGN): +6.02 to $372.22 (+1.64%) – Biotech bucks tech rout.
- Coca-Cola (KO): +1.27 to $78.62 (+1.64%) – Consumer staples hold firm.
Top Losers Today
- Amazon (AMZN): -10.70 to $222.29 (-4.59%) – E-commerce hit by rotation.
- Microsoft (MSFT): -14.84 to $399.35 (-3.58%) – Cloud/AI spending doubts.
- Goldman Sachs (GS): -32.42 to $880.88 (-3.55%) – Banks face rate jitters.
- Salesforce (CRM): -6.44 to $193.00 (-3.23%) – Software sell-off intensifies.
- JPMorgan Chase (JPM): -10.14 to $307.13 (-3.20%) – Financials falter.
FAQ’s
Why did tech stocks tank?
Earnings misses from Alphabet and Qualcomm highlighted soaring AI costs without matching revenue, prompting a sell-off.
Is bitcoin’s drop a buying opportunity?
Maybe not as $70K breach signals deeper crypto winter and watch $60K support.
What drove layoff spikes?
Cost-cutting amid slowing growth and January’s 108K total rivals GFC levels.
Are gold and silver safe now?
Volatile in recent records reversed on risk aversion, but inflation hedges linger.
What’s next for indexes?
Nasdaq risks more pain without AI rebound and Dow may stabilize on defensives.
