Market Updates
Volatile Tech Stocks Drive Broader U.S. Averages Sideways
Barry Adams
05 Feb, 2026
New York City
U.S. stocks steadied on Thursday, and investors reacted to mixed corporate results from leading tech companies.
The S&P 500 Index increased 0.3%, and the tech-focused Nasdaq Composite jumped 0.5% as investors surmised the previous session's sell-off was overdone.
In Thursday's trading, the S&P 500 index decreased 0.5%, and the Nasdaq Composite dropped 1.5% as the tech-led rout intensified. Moreover, investors rotated out of software stocks on the fears that the latest advances in artificial intelligence could disrupt business models amid worries of stretched valuations.
In precious metals trading, gold decreased 2%, and silver plunged 11% following a rebound in the previous session.
Silver continued to seek lower levels amid renewed selling pressure and heightened volatility, driven in part by a rebound in the U.S. dollar.
Silver dropped to $78.04 an ounce, and gold eased 2% to $4,867.05 an ounce.
U.S. Movers
Alphabet Inc. decreased 2.5% to $324.83 after the parent company of the Google search engine estimated sharply higher capital expenditure for AI infrastructure.
Nvidia Corp. jumped 1.8% to $177.51, and Broadcom jumped 5.3% to $325.35 after Alphabet estimated a 2026 capital expenditure of $185 billion, driven by a sharp increase in artificial intelligence spending.
Qualcomm Inc. plunged 12.1% to $130.85 after the advanced chipmaker's outlook disappointed some investors.
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