Wall Street's main indexes opened lower on Monday after a week when AI disruption concerns caused technology stocks to tumble, while investors awaited crucial economic data for insight into the U.S. Federal Reserve's interest-rate path. The Dow Jones Industrial Average fell 67.9 points, or 0.14%, to 50,047.79 at the open. The S&P 500 fell 15.0 points, or 0.22%, to 6,917.26, while the Nasdaq Composite dropped 79.0 points, or 0.34%, to 22,952.24 on Feb. 10, 2026.
Shares of Oracle were up 4% after receiving an upgrade to buy from neutral at D.A. Davidson on optimism around OpenAI and its beneficiaries. However, other chip stocks were under pressure. This comes after the major averages bounced back Friday following sizable losses suffered earlier in the week. The market rout was sparked by a sell-off in the tech sector, led by software stocks. Bitcoin also plunged on Monday before recovering some as investors took a risk-off posture.
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The S&P 500 and the Nasdaq rebounded on Friday after three consecutive sessions of losses driven by a selloff in technology shares, while the Dow closed above 50,000 points for the first time. Several software companies bore the brunt of last week's turbulence, hammered by concerns that fast-advancing AI could intensify competition and squeeze margins.
A handful of recent mega-cap results only exacerbated investor worries over Big Tech's ambitious capex plans, with Amazon, Alphabet, Meta, and Microsoft together poised to spend around $650 billion in the race to dominate AI. Several US Federal Reserve officials, including Governors Christopher Waller and Stephen Miran, will speak later in the day. The comments will be watched keenly by investors to get cues for the US Federal Reserve's monetary policy.
On Wednesday, investors will be watching for the delayed January jobs report from the Bureau of Labor Statistics. It also comes after ADP reported last week that private payrolls increased by a mere 22,000 in January, well below expectations. Investor's focus will also turn to the closely watched January Consumer Price Index data on Friday.
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