Stock market today: Dow, S&P 500, Nasdaq sink as tech stocks get pummeled

^DJI ^GSPC ^IXIC

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  Stocks reverse done greeting trading successful a wide crook into the red

  The US banal marketplace turned into the reddish done precocious greeting trading connected Thursday, marking a crisp reversal from earlier gains connected the large indexes.

  The tech-heavy Nasdaq Composite (^IXIC) led the mode down, shedding astir 1.5%. Meanwhile, the S&P 500 (^GSPC) and the bluish chip-heavy Dow Jones Industrial Average (^DJI), which snapped a three-day streak of gains connected Wednesday, some mislaid astir 1%.

  Nasdaq GIDS - Free Realtime Quote • USD

  22,682.53 -383.94 (-1.66%)

  As of 12:00:47 PM EST. Market Open.

  ^IXIC ^GSPC ^DJI

  The downturn comes arsenic investors look for immoderate signs of weakness successful the net reports of companies susceptible to AI disruption, which has triggered the meltdown successful bundle stocks implicit the past week-and-a-half. Cisco Systems (CSCO) banal fell implicit 11% arsenic its gloomy nett outlook overshadowed a emergence successful income amid Big Tech's AI buildout.

  The tech sector's largest names besides dragged the assemblage down, arsenic Nvidia (NVDA) and Microsoft (MSFT) some fell implicit 1% portion Meta (META), Amazon (AMZN), and Apple (AAPL) saw steeper losses.

  While investors got a bullish work connected the labour marketplace successful Wednesday's nonfarm payrolls report, showing that January added doubly arsenic galore jobs arsenic expected, information published Thursday connected archetypal jobless claims dimmed immoderate of that optimism, showing a smaller diminution than expected.

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  Oil prices driblet arsenic IEA says request volition emergence much dilatory than expected

  Oil prices fell connected Thursday arsenic investors weighed a caller request forecast from the International Energy Agency, which predicted a slowdown, and unclear advancement successful talks betwixt the US and Iran.

  Futures connected planetary pricing benchmark Brent crude (BZ=F) and US benchmark West Texas Intermediate (WTI) crude (CL=F) shed astir 1.8% to commercialized beneath $68.20 and $63.50 a barrel, respectively.

  In a caller work connected Thursday, the International Energy Agency (IEA) said satellite lipid request would emergence by 850,000 barrels per time (bpd) this year, 80,000 bpd little than the agency's January forecast. The fig is besides overmuch little than that published by the Organization of Petroleum Exporting Countries connected Wednesday, which said request would emergence by 1.38 cardinal bpd this year.

  The IEA besides maintained its telephone that the marketplace volition walk 2026 successful a heavy oversupply glut, which the bureau pegged astatine 3.73 cardinal bpd of excess oil.

  While marketplace watchers had broadly coalesced astir the likelihood of a proviso glut done 2026, with prices expected to drop, lipid prices person alternatively gained astir 10% since the commencement of the year, pursuing a bid of geopolitical events, including the US takeover of Venezuela's lipid industry, wide protests successful Iran, and harm to cardinal export terminals connected the Caspian Sea.

  In nationalist comments connected Thursday, the CEO of commodities trading location Vitol, Russell Hardy, said the planetary lipid marketplace is tightening alternatively of loosening, particularly arsenic the US ratchets up unit connected Russia and Iran, pushing buyers to find barrels successful different markets.

  Vitol is the world's largest autarkic trader of oil.

  The cardinal plaything origin for lipid prices close present remains ongoing negotiations betwixt the US and Iran implicit the Iranian regime's uranium enrichment technology. President Trump connected Wednesday deployed much subject trade to the region, and analysts accidental immoderate subject enactment could effect successful retaliation from Iran, which controls the Strait of Hormuz, a critically important planetary chokepoint for lipid flows.

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  As Big Tech's AI buildout booms, lawmakers are pushing back

  As worries astir the energy and h2o request of AI information centers person taken root, national and authorities lawmakers person begun pushing back, introducing bills to modulate oregon halt improvement entirely.

  This week, Sens. Josh Hawley (R-Mo.) and Richard Blumenthal (D-Conn.) introduced the archetypal bipartisan measure successful Congress designed to forestall information halfway powerfulness usage from affecting consumers' electrical bills.

  A week earlier, connected Feb. 6, New York became astatine slightest the sixth authorities to person its legislators suggest a measure to intermission information halfway operation wrong authorities lines. This authorities would efficaciously unopen retired New York arsenic a imaginable tract for caller information centers if it passes.

  In doing so, New York's legislators articulation national and authorities legislature leaders crossed the state successful attempting to legislate an manufacture that has boomed and threatens an already overtaxed powerfulness grid.

  "The regulatory model was not designed for single-sector load shocks, truthful policymakers are attempting to set successful existent clip to the standard and velocity astatine which the load forecasts are changing," Didi Caldwell, laminitis and CEO of tract enactment advisory steadfast Global Location Strategies, told Yahoo Finance.

  "The strategy is ill-equipped to code the melodramatic summation successful request created by AI information centers," she said.

  And lawmakers are trying to drawback up.

  Read much here.

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  BofA: January jobs study signals nary complaint cuts nether Powell, narrows Warsh's way to cuts

  Wednesday's unexpectedly bullish jobs study has each but shuttered the likelihood of complaint cuts nether existent Federal Reserve Chair Jerome Powell and narrowed the way to cuts nether a Kevin Warsh-led Fed, Bank of America economists wrote successful a lawsuit enactment connected Thursday, calling the study "a feast for the hawks."

  Data released by the Bureau of Labor Statistics connected Wednesday showed that the US added 130,000 jobs successful January, doubling economists' expectations of 65,000. The unemployment complaint besides fell to 4.3% from 4.4%, beating expectations that the complaint would stay flat.

  The information gave assistance to the statement that adjacent arsenic ostentation has stayed elevated, the labour marketplace is remaining resilient. These conditions are seen arsenic reducing the likelihood of complaint cuts successful the adjacent future.

  "Payrolls surged supra each expectations, the downward revisions were minimal, and wages and hours were up arsenic well," the analysts wrote. "The broad-based spot successful the Jan jobs study vindicates our presumption that the Fed won't chopped nether Powell."

  For now, the economists wrote, BofA is maintaining its prediction of 2 complaint cuts nether a Warsh-led Fed. But the plaything metric for imaginable complaint cuts nether Warsh, they wrote, volition beryllium the unemployment rate.

  "The cardinal hazard to his telephone for important cuts is simply a diminution successful the u-rate. Therefore, the way to cuts nether Warsh (which we don't deliberation the system needs) present looks narrower," the BofA economists wrote.

  "If the u-rate is unchangeable oregon down adjacent further by June, Warsh mightiness beryllium stuck connected clasp for the remainder of the year."

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  US stocks emergence astatine the open

  US stocks roseate successful the archetypal minutes of trading connected Thursday arsenic investors digested the latest drawstring of net reports and looked up to Friday's ostentation speechmaking arsenic the adjacent large signpost for rate-cut bets.

  The Dow Jones Industrial Average (^DJI) picked up astir 0.5% arsenic trading began, aft the blue-chip benchmark snapped a three-day triumph streak connected Wednesday. The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) some roseate astir 0.3%.

  DJI - Free Realtime Quote • USD

  49,552.67 -568.73 (-1.13%)

  As of 12:00:49 PM EST. Market Open.

  ^DJI ^GSPC ^IXIC

  Thursday's play speechmaking connected jobless claims — which showed a smaller diminution than expected — offered different representation of the labour marketplace aft nonfarm-payrolls information showed the US system added doubly arsenic galore jobs arsenic anticipated successful January.

  On the firm calendar, net from Coinbase (COIN), Applied Materials (AMAT), and Rivian (RIVN) are owed aft Thursday's closing bell.

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  Initial jobless claims autumn by little than expected, continuing claims increase

  The US saw 227,000 archetypal jobless claims for the week ended Feb. 7, exceeding expectations and marking a alteration from the erstwhile week's 232,000 archetypal claims, according to information released Thursday by the Department of Labor.

  Economists had expected 223,000 claims for unemployment benefits, according to statement estimates compiled by Bloomberg.

  Continuing claims for the week came successful astatine 1.86 million, besides exceeding economists' estimates of 1.85 cardinal and marking an summation implicit the erstwhile week's 1.84 cardinal continuing claims.

  The Labor Department information comes aft investors received a stronger-than-expected work connected payroll additions successful January.

  Data released by the Bureau of Labor Statistics showed 130,000 jobs added successful January, compared to estimates of 65,000 jobs. However, 2025 revisions knocked 400,000 occupation additions disconnected the year's total, bringing the monthly mean of payroll additions to astir 15,000 per month.

• European stocks emergence aft net boost

  European stocks broadly gained connected Thursday arsenic net results from Siemens, EssilorLuxxotica, and others lifted sentiment.

  Germany's DAX (^GDAXI) roseate 1.3%. The scale was lifted by a 6% summation successful Siemens banal (SIE.DE) aft the concern institution raised its 2026 net guidance owed to beardown artificial quality demand.

  The pan-European Stoxx 600 (^STOXX) precocious different 0.3% aft hitting a grounds precocious connected Wednesday.

  Meanwhile, the CAC 40 (^FCHI) successful Paris climbed 1%. Shares of constituent EssilorLuxxotica (EL.PA), the shaper of Ray-Ban and Oakley sunglasses, jumped much than 6% aft the institution sounded bullish connected gross maturation from astute glasses successful its net report. EssilorLuxxotica expanded its concern with Meta (META) to nutrient the AI glasses.

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  Baxter banal sinks aft forecasting 2026 nett beneath estimates

  US healthcare institution Baxter's (BAX) banal sank 14% earlier the doorbell connected Thursday pursuing the merchandise of its 4th fourth earnings, forecasting yearly nett beneath Wall Street estimates. The institution cited persistent problems from hurricane-related issues astatine 1 of its manufacturing plants.

  Reuters reports:

  Read much here.

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  Magnum banal autumn 'reignites' fears implicit weight-loss drugs

  Magnum Ice Cream's (MICC) banal fell 12% during premarket hours connected Thursday. The group, which was precocious spun disconnected from Unilever (UL) and makes fashionable crystal creams specified arsenic Ben & Jerry's and Cornetto, reported a 3% diminution successful income for its 4th fourth earnings.

  The FT reports:

  Read much here.

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  Premarket trending tickers: Sanofi, Micron, and AppLovin

  Sanofi (SNY) banal fell 6% earlier the doorbell connected Thursday aft the French pharmaceutical institution ousted its CEO, Paul Hudson, thanking him Thursday for "valuable contributions" but without giving immoderate crushed for his astonishment exit.

  Micron (MU) banal roseate 3% during premarket hours connected Thursday aft its CEO, brushed disconnected concerns connected Wednesday astir contention increasing successful the representation spot space. Samsung Electronics (005930.KS) besides claimed an aboriginal pb successful the contention to proviso AI chips to Nvidia (NVDA). Samsung Electronics is simply a cardinal rival of Micron.

  AppLovin (APP) shares fell 5% earlier the doorbell contiguous pursuing the group's fourth-quarter net merchandise connected Wednesday, which bushed Wall Street estimates. The advertizing company's shares person fallen astir 30% implicit the past month.

• Pharma companies near retired of Trump's drug-pricing deals look for a mode in

  Some smaller pharmaceutical companies not targeted by President Trump for deals to little their US cause pricing are looking to trade their ain agreements with his administration, manufacture sources told Reuters. The moves are a bid to debar perchance onerous tariffs and caller price-setting schemes.

  Reuters reports:

  Read much here.

• Cisco banal falls aft 2026 guidance disappoints

  Cisco (CSCO) banal fell 7% during premarket hours connected Thursday aft the networking institution issued guidance beneath Wall Street forecasts.

  For the afloat year, Cisco raised its guidance for net per stock to $3.00 to $3.08 connected gross of $61.2 cardinal to $61.7 billion. However, the Street was looking for net guidance of $3.12 connected gross of $62.1 billion.

  In Cisco's 2nd quarter, the institution reported net per stock of $0.80, compared to Wall Street expert estimates of $0.74 per share, according to S&P Global Market Intelligence. Revenue roseate 10% twelvemonth implicit twelvemonth to $15.3 billion, compared to estimates of $15.1 billion.

  "We spot strong, broad-based request for our exertion solutions and stay focused connected capturing the important opportunities we spot ahead," Cisco CFO Mark Patterson said.

  NasdaqGS - Nasdaq Real Time Price • USD

  75.32 -10.22 (-11.94%)

  As of 12:00:48 PM EST. Market Open.

  Reuters reports:

  Read much here.

• Oil climbs arsenic US-Iranian tensions rise

  Bloomberg reports:

  Read much here.

• Gold falls aft jobs study lowers rate-cut expectations

  Bloomberg reports:

  Read much here.