Market Highlights

A selloff in stocks and bonds was trimmed as assurances on American action to secure shipping lanes through the Strait of Hormuz amid the Iran war pared what had been an over 9% surge in oil. Following an earlier slide in the S&P 500 that reached 2.5%, the equity benchmark dropped less than 1%. President Donald Trump said the US will escort and insure tankers and other vessels through the world’s most-critical energy chokepoint. Oil prices waned in post-settlement trading, with Brent trading near $80 a barrel. Asian stocks plunged the most in nearly a year, led by the biggest South Korean crash ever, as mounting concerns over the Iran war triggered an exodus from some of the world’s best- performing markets.

Oil surged as the Iran war threatened to snarl shipping lanes, stoking inflation fears that pummeled bonds amid diminishing odds for a rate cut. The dollar rose. Stocks erased losses. Also weighing on Treasuries were figuresshowing manufacturing expanded, with input prices jumping. Ten-year yields saw their biggest advance since October. The S&P 500 was little changed after a slide that earlier topped 1%. Energy and defense shares gained. Several tech firmswith solid balance sheets rallied. Airlines sank. Gold topped $5,300. Stock losses deepened and bonds were sold off as Iran stepped up its attacks on the US and its allies in the Middle East, pushing oil prices higher and fueling inflation concerns. The dollar rose.

Wall Street traders shunned riskier corners of the market, with stocks falling on geopolitical concerns and any issues related to private credit — a key funding source for technology companies. Treasuries climbed at the end of their best month in a year. Oil jumped. Friday’s drop drove the S&P 500 to its biggest monthly loss since March. Anxiety about an artificial-intelligence bubble resurfaced as OpenAI raised $110 billion. Banks sank, with investors remaining jittery after the recent collapse of a UK mortgage firm.UBS Group AG strategists this week said private-credit default rates could hit as high as 15% if AI sparks an “aggressive” disruption. Stocks tumbled and oil prices jumped as the eruption of war between the US and Iran rattled global markets. Gold and the dollar rose as investors piled into havens.

Wall Street traders lifted stocks away from session lows as oil erased its gain amid signs of progress in US nuclear talks with Iran. Chipmakers sank as Nvidia Corp.’s results failed to inspire investors seeking reassurances about artificial intelligence. Bonds climbed. While the S&P 500 fell, about 350 of its shares advanced. The Nasdaq 100 lost 1.2%. Even after giving a bullish forecast, Nvidia tumbled 5.5%, dragging down almost every company in a key semiconductor gauge. Salesforce Inc. gave a strong estimate for long-term sales and announced a large share buyback, assuaging some fears about AI disruption of the software industry Stocks in Asia and Europe were poised to outperform US benchmarks in February, as the so-called AI scare trade that rattled Wall Street prompted investors to rotate into markets seen as more insulated from disruption risks.

Stocks climbed in late hours on speculation that Nvidia Corp.’s strong outlook will help reignite confidence in the artificial-intelligence trade that has powered the bull market. A $700 billion ETF tracking the S&P 500 rose after the close of regular trading. The giant chipmaker that’s seen as a barometer for the revolutionary technology said fiscal first-quarter sales will be about $78 billion, beating the average estimate of $72.8 billion. Its shares gained about 1.5%. A rebound in global equities following the so-called “AI scare trade” that rattled Wall Street earlier this week showed signs of losing momentum, as investors delivered a muted response to Nvidia Corp.’s earnings despite results that topped estimates.

A rally in technology firms spurred a rebound in stocks after a rout driven by fears about the disruptive impacts of artificial intelligence, with sentiment also buoyed by an improvement in consumer confidence. Beaten-down software firms climbed, with the Nasdaq 100 up 1.1%. Advanced Micro Devices Inc. jumped about 9% on Meta Platforms Inc.’s plans to spend billions on its gear. Texas Instruments Inc. slid on concern about heavy capital spending. Short-dated bonds underperformed. Gold fell. A rally in technology shares that lifted Wall Street benchmarks extended into Asia, as concern over the disruptive effects of artificial intelligence eased after weeks of turmoil

Stocks fell and bonds rose as renewed anxiety over the impact of artificial intelligence on company profits joined lingering tariff uncertainty in squelching risk appetites. Bitcoin dropped below $65,000. Gold rallied. The S&P 500 slid 1%. Tech, delivery and payment shares got hit as Citrini Research laid out the potential AI risks to various industries. DoorDash Inc. and American Express Co. sank over 6.5%. An ETF focused on software firms lost 4.8%. International Business Machines Corp. tumbled 13% in its worst day since October 2000 as Anthropic said its Claude Code can help modernize COBOL, a programming language mainly run on IBM computers. The artificial intelligence-driven “scare trade,” fueled by concern over the impact of the technology on companies, showed signs of cooling as Asian shares and US equity-index futures advanced.

Stocks advanced while bonds and the dollar slipped as traders deemed the rejection of Donald Trump’s tariff program to be a potential stress on government financesthat is unlikely to change the economy’s course. After a brief drop, the S&P 500 bounced. The president, rebuked by Supreme Court justices earlier in his bid to impose far-reaching tariffs, said he’ll impose a 10% global levy on trading partners, and claimed that various categories of his existing program remain in place. Still, uncertainties about any potential budget shortfall kept a lid on the greenback and Treasuries. The dollar and S&P 500 futures declined as ambiguity over trade policy damped sentiment toward US assets and raised the prospect of heightened volatility across global markets.

A rebound in stocks gained traction amid easing jitters around artificial-intelligence disruption while a slew of data showed the US economy is holding up. Treasuries fell for a second straight day. Oil jumped. About 320 shares in the S&P 500 rose. That’s even as minutes of the last Federal Reserve meeting showed “several” officials suggested the central bank may need to raise rates if inflation stays above their goal. After a rout fueled by AI concerns, investors are seeking signs of a bottom. A gauge of chipmakers climbed 1% and an ETF tracking software firmsjumped 1.3% Stocks built on their technology-led rally as volatility tied to bets on artificial intelligence subsided, removing a key source of recent market anxiety.

Traders struggling to assess the outlook for artificial intelligence whipsawed stocks in another volatile session on Wall Street. Gold and silver tumbled. Bitcoin extended its February rout. The S&P 500 erased a nearly 1% slide, but almost gave up its gain in the last stretch of trading. A closely watched ETF tracking software firms slipped 2.2%. In late hours, Meta Platforms Inc. said it agreed to deploy “millions” of Nvidia Corp. processors over the next few years. US equity-index futures edged higher along with Asian stocks as the recent selling pressure tied to artificial intelligence appeared to stabilize. Precious metals rebounded.