Market Highlights

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.

Stocks and bonds posted small moves amid muted holiday trading after Friday’s benign US inflation data reinforced expectations that the Federal Reserve will cut interest rates this year. Futures on the S&P 500 were flatand Europe’s Stoxx 600 index gained 0.1%. NatWest Group Plc climbed 4.8% after Citigroup Inc. raised its price target on the UK lender. German bunds and Treasury futures were steady after US yields touched the lowest since December on Friday. With the US observing the Presidents’ Day holiday and mainland China’s markets closed for Lunar New Year holidays, trading volumes were thin. Still, the path of US interest rates remains in focus following the slower- than-expected US inflation print as traders fully price a Fed cut in July and the strong chance of a move in June

Wall Street got a degree of relief as relatively tame inflation data spurred bigger bets on Federal Reserve rate cuts, with bond yields falling. While most stocks gained, weakness in tech giants kept a lid on the market. Treasury two-year yields dropped to their lowest level since 2022 as traders priced in higher chances the Fed will slash rates more than twice this year. About 370 shares in the S&P 500 rose, but the gauge closed little changed at the end of its worst week since November. A gauge of megacaps lost 1.1%. Amazon.com Inc. saw its longest slide in almost 20 years. The Russell 2000 index of small firms climbed 1.2%. Bitcoin jumped. The consumer price index rose 0.2% in January, the smallest gain since July and restrained by lower energy costs. While services costs picked up last month, prices of core goods remained stable. The core CPI rose from a year ago by the least since 2021. The overall gauge also eased on an annual basis.