{"id":77599,"date":"2026-02-05T18:39:53","date_gmt":"2026-02-05T21:39:53","guid":{"rendered":"https:\/\/tech.einnews.com\/article\/889774608"},"modified":"2026-02-05T18:39:53","modified_gmt":"2026-02-05T21:39:53","slug":"nasdaq-finishes-deep-in-the-red-as-big-tech-wobbles-ahead-of","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/05\/nasdaq-finishes-deep-in-the-red-as-big-tech-wobbles-ahead-of\/","title":{"rendered":"Nasdaq finishes deep in the red as Big Tech wobbles ahead of&#8230;"},"content":{"rendered":"<div><img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" 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class=\"ff-og-image-inserted\"><\/div>\n<h3 class=\"deep-dive-headline\">4:20pm: Another tech sell-off<\/h3>\n<p>Wall Street was shaken Thursday as tech giants stumbled and signs of labor market weakness rattled investors, sending major indexes sharply lower.<\/p>\n<p>The Nasdaq plunged 1.6% to 22,541, the Dow Jones fell 1.2% to 48,909, and the S&amp;P 500 slipped 1.2% to 6,798. The Russell 2000 tumbled 1.8% to 2,578, marking the biggest drop among the major indexes.<\/p>\n<p>Tech stocks bore the brunt of the selling, with investors digesting Alphabet\u2019s massive $185 billion AI investment plan. Shares wavered but managed to pare some losses as analysts weighed the company\u2019s aggressive push into artificial intelligence.<\/p>\n<p>All eyes now turn to Amazon, set to report earnings after the market close.<\/p>\n<p>The downturn was also influenced by new jobs data signaling continued fragility in the labor market, keeping traders cautious amid mounting questions about the economy\u2019s near-term trajectory.<\/p>\n<h3 class=\"deep-dive-headline\">3:40pm: Proactive news headlines<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.proactiveinvestors.com\/NASDAQ:VVPR\/VivoPower-International-PLC\/\">VivoPower International PLC (NASDAQ:VVPR, FRA:51J)<\/a> completed a deal with KWeather to exit part of its digital asset holdings, receiving a 20% equity stake in KWeather while KWeather acquires economic rights to some Ripple Labs shares.<\/li>\n<li><a href=\"https:\/\/www.proactiveinvestors.com\/CVE:STND\/Standard-Uranium-Ltd\/\">Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF, FRA:9SU0)<\/a> began mobilization for its first diamond drilling program at the Corvo project, targeting high-grade surface uranium in the eastern Athabasca Basin.<\/li>\n<li><a href=\"https:\/\/www.proactiveinvestors.com\/TSE:NEXT\/NextSource-Materials-Inc\/\">NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF)<\/a> signed a non-binding LOI with a major Japanese producer to negotiate long-term supply of anode materials for EV batteries from its planned Abu Dhabi facility starting in 2027.<\/li>\n<li><a href=\"https:\/\/www.proactiveinvestors.com\/TSE:GCU\/Gunnison-Copper-Corp\/\">Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0)<\/a> announced an agreement with Paradigm Capital to distribute up to 143.2 million common shares held by the Greenstone Group to institutional investors.<\/li>\n<li><a href=\"https:\/\/www.proactiveinvestors.com\/CVE:ALV\/Alvopetro-Energy-Ltd\/\">Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0)<\/a> reported record January sales of 3,099 boepd, up 8% from Q4 2025, driven by stronger production in Brazil and higher oil sales in Canada.<\/li>\n<li><a href=\"https:\/\/www.proactiveinvestors.com\/CVE:HIVE\/HIVE-Digital-Technologies\/\">HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO)<\/a> produced 297 BTC in January 2026, up 191% from a year earlier, despite a 30% increase in network difficulty.<\/li>\n<\/ul>\n<h3 class=\"deep-dive-headline\">2:30pm: Market movers<\/h3>\n<ul>\n<li>Rio Tinto and Glencore ended merger talks after failing to agree on terms, with Rio saying it could not secure a deal that would deliver sufficient shareholder value.<\/li>\n<li>Crypto exchange Gemini announced it will cut about 25% of its workforce as part of a strategic refocus on its core home market.<\/li>\n<li>Hims &amp; Hers launched a compounded oral semaglutide weight-loss pill, offering a non-injectable alternative to Novo Nordisk\u2019s Wegovy.<\/li>\n<li>Barrick Gold shares slid nearly 5% despite a 151% jump in quarterly earnings, as the miner unveiled plans to spin off its top North American assets via an IPO.<\/li>\n<li>e.l.f. Beauty shares fell more than 5% after the company raised full-year guidance by less than investors expected, despite beating quarterly sales estimates.<\/li>\n<li>Hershey shares jumped 7.7% after the company delivered better-than-expected quarterly earnings and issued a stronger-than-anticipated outlook for 2026.<\/li>\n<li>Ralph Lauren shares dropped nearly 7% as investors focused on expected fourth-quarter margin pressure, overshadowing a quarterly earnings beat and a higher full-year outlook.<\/li>\n<li>Tapestry shares rose 3.6% after the company posted stronger-than-expected second-quarter revenue and earnings, driven by solid demand for its Coach brand.<\/li>\n<li>Est\u00e9e Lauder shares plunged nearly 22% as investors weighed tariff-related profit headwinds, despite the company raising its full-year adjusted earnings forecast.<\/li>\n<li>Peloton shares sank about 24% after the company reported a wider-than-expected quarterly loss and issued revenue guidance that missed Wall Street expectations.<\/li>\n<\/ul>\n<h3 class=\"deep-dive-headline\">1:15pm: Amazon earnings due<\/h3>\n<p>Amazon.com Inc (NASDAQ:AMZN)&nbsp;is set to report fourth quarter results after the bell tonight, with Wedbush analysts noting that&nbsp;investor sentiment has been improving ahead of the release and reiterating an \u2018Outperform\u2019 rating and a $340 price target.<\/p>\n<p>\u201cInvestor confidence has been building, with sentiment turning more positive following the company&#8217;s strong report last quarter,\u201d the analysts wrote.<\/p>\n<p>They noted that AWS growth exceeded expectations and pointed to backlog growth and expanding supply as indicators of continued demand.<\/p>\n<p>The analysts expect AWS to be a major driver of Amazon\u2019s performance in 2026. \u201cWe expect 2026 to be a big year for AWS serving to catalyze shares toward our $340 PT as the year plays out,\u201d the analysts wrote. They also wrote that Amazon shares trade at about 22 times their 2027 GAAP EPS estimate.<\/p>\n<h3 class=\"deep-dive-headline\">11:20am:&nbsp;Labor market shows signs of slowing<\/h3>\n<p>The US labor market remains fragile, Wells Fargo analysts said after&nbsp;the December JOLTS report.<\/p>\n<p>Job openings dropped to 6.5 million, down roughly 10% from a year ago, signaling that a rebound in hiring is not yet underway.<\/p>\n<p>Both hiring and quit rates stayed near their lowest levels in about a decade, indicating subdued labor market activity, according to analysts.<\/p>\n<p>While layoffs held at 1.1% in December, forward-looking data from Challenger suggest job cut announcements are rising. Wells Fargo noted that the trend highlights that companies may reduce headcount when other measures are exhausted,&nbsp;though not yet signaling widespread job losses.<\/p>\n<h3 class=\"deep-dive-headline\">10:40am:&nbsp;Stocks show resilience beneath tech selloff<\/h3>\n<p>The decline in US equities is driven largely by weakness in major technology stocks, but underlying market conditions remained resilient, according to Michael Brown, senior research strategist at Pepperstone.<\/p>\n<p>\u201cOnce again, we see a market where things appear shaky at the surface, but are considerably more resilient under the surface,\u201d Brown said, noting that 72% of S&amp;P 500 components ended Wednesday&nbsp;higher despite index-level losses. Cyclical sectors outperformed, while skepticism around AI stocks weighed on tech-heavy benchmarks, including the Nasdaq 100.<\/p>\n<p>Brown highlighted solid USeconomic data, including recent ISM manufacturing and services surveys, as evidence of ongoing strength. \u201cIncoming USd ata is now beating expectations by its biggest margin in two-and-a-half years; that\u2019s hardly a bearish indicator,\u201d he said.<\/p>\n<h3 class=\"deep-dive-headline\">10am: Alphabet, Strategy and Qualcomm lead retreat at open<\/h3>\n<p>Wall Street has opened lower again, with big tech marching at the head of the retreat.&nbsp;<\/p>\n<p>The tech-laden&nbsp;Nasdaq is down&nbsp;1.45%, while the blue-chip&nbsp;Dow Jones has fallen 0.8% and the broader&nbsp;S&amp;P 500 has dropped 1.1%.&nbsp;<\/p>\n<p>Small caps are up, with the Russell 2000 edging up 0.2%.<\/p>\n<p>Alphabet is down over 4%, while the biggest faller on the Nasdaq 100 are bitcoin &#8216;hodler&#8217; Strategy and chipmaker&nbsp;Qualcomm, both down over 7%.&nbsp;<\/p>\n<p>Over five days, the Nasdaq Composite is down almost 1,000 points or 4.2% at just over 22,500.&nbsp;<\/p>\n<h3 class=\"deep-dive-headline\">8am: Alphabet to lead Nasdaq&nbsp;lower<\/h3>\n<p>US stocks have been called sharply lower on Thursday after jobs cuts in the past month were higher than expected, while Google parent Alphabet is set to lead a further tech&nbsp;decline after its earnings overnight.&nbsp;<\/p>\n<p>Futures for the S&amp;P 500 were down 0.7% an hour and a half before the opening bell, with sharper falls expected on the Nasdaq, where futures pointed to a drop of 1.1%, and a smaller 0.4% for the Dow Jones.&nbsp;<\/p>\n<p>This followed a&nbsp;mixed session the day before, when the Nasdaq slid 1.5% to 22,905, weighed down by a continued selloff in software and tech stocks, led by Advanced Micro Devices.&nbsp;The S&amp;P dipped 0.5% to 6,883 and the Russell 2000 fell 0.9% to 2,624.<\/p>\n<p>In contrast, the Dow climbed 0.5% to 49,501, buoyed by defensive and industrial shares.<\/p>\n<p>The dollar was continuing to regain health, with the DXY index up 0.2% at 97.8.&nbsp;But in crypto markets, bitcoin plunged to levels last seen in over a year, down 8.5% to $69.5k.<\/p>\n<p>Silver also tumbled, down 13% to $76.6 an ounce,&nbsp;while gold was down 3% at $4,818\/oz.&nbsp;Oil was also weaker, with WTI crude down 2.3% at $63.66 a barrel.<\/p>\n<p>Alphabet reported <a href=\"https:\/\/www.proactiveinvestors.com\/companies\/news\/1086844\/alphabet-q4-results-top-estimates-but-spending-plan-spooks-investors-1086844.html\" target=\"_blank\">better-than-expected&nbsp;quarterly results<\/a>, but the market took fright at an expected increase in capex for the year ahead.&nbsp;<\/p>\n<p>The shares are down 4% in premarket trading (though still up 140% since last April).&nbsp;<\/p>\n<p>The Google owner now expects to spend between $175 billion&nbsp;and $185 billion&nbsp;in 2026, nearly double last year\u2019s level and far above what analysts had pencilled in.<\/p>\n<p>In macroeconomic news,&nbsp;Challenger job cuts for January came in at 108.4K, up from 35.55K and well above the 43K expected.<\/p>\n<p>Also due are initial jobless claims and continuing claims, along with the December JOLTS report.<\/p>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\"> <\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\"> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8230; :\u00c2\u00a0Stocks show resilience beneath <span class=\"match\">tech<\/span> selloff The decline in &#8230; largely by weakness in major <span class=\"match\">technology<\/span> stocks, but underlying market &#8230; around AI stocks weighed on <span class=\"match\">tech<\/span>-heavy benchmarks, including the &#8230; continued selloff in software and <span class=\"match\">tech<\/span> stocks, led by Advanced &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-77599","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/77599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=77599"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/77599\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=77599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=77599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=77599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}