Stocks tumble on weak labor market data and AI concerns

Stocks tumble on weak labor market data and AI concerns

https://www.cnn.com/2026/02/05/investing/us-stock-market

Publish Date: 2026-02-05 11:05:00

Source Domain: www.cnn.com

Certainly! Here are the key points from the article, summarized in an unordered list:

– US stocks experienced significant declines on Thursday, with the Dow, S&P 500, and Nasdaq all recording significant drops.
– The elevated volatility on Wall Street is primarily attributed to lingering worries regarding the impact of artificial intelligence (AI) on the software industry.
– Concerns are growing that AI could reduce the need for coders, disrupting revenue streams, and negatively impacting software companies, as reflected by the eight consecutive trading days of decline in an exchange-traded fund tracking the software industry.
– Major tech companies like Microsoft and Alphabet, which report quarterly earnings, saw their shares drop, raising doubts about the profitability of their AI investments.
– Economic data revealed a weakening labor market, with December seeing the lowest level of job openings since 2020, further contributing to market volatility.
– Crypto assets such as Bitcoin also suffered setbacks, declining below $67,000 and reaching its lowest point in 15 months.
– Precious metals like gold and silver took losses with gold falling 2.3% and silver plunging 13%, in spite of typically being seen as safe-haven assets.