5 February 2026 — Today’s Market News — Tech Rout Spreads in Asia; KOSPI Sinks Nearly 4% & Silver Tumbles 10%
Global Markets Turn Defensive as global tech selloff spreads to Asia.
Markets turned more defensive as a tech-led selloff in the U.S. spread into Asia, weighing on chip and software stocks. The Nasdaq slid, while South Korea’s KOSPI tumbled nearly 4%. Silver extended losses as the U.S. dollar strengthened, with AUD/USD slipping to around 0.4%.
Today’s Snapshot
S&P 500: 6,882.72 (−35.09 pts, −0.51% – last close)
Nasdaq Composite: 22,904.58 (−350.61 pts, −1.51% – last close)
KOSPI: ~ 5,157.83 (−214.51.44 pts, −3.98%)
Gold: ~$4,917.02/oz (−1.7%)
Silver: ~$78.77/oz (-10.41%)
Global Markets
Precious Metals
Gold: ~$4,917.02/oz (−1.7%)
Gold fell 1.7% as a stronger U.S. dollar made it more expensive for buyers outside the U.S., and investors moved away from safe-haven assets.
Silver: ~$78.77/oz (-10.41%)
Silver fell 10.4% as traders sold to lock in profits from the commodity after last week’s sharp rally, with a stronger dollar adding pressure.
FX
(A) Dollar Index (DXY): 97.76 (slightly stronger)
The dollar strengthened by roughly 0.2% as investors became cautious ahead of interest-rate decisions from major central banks, boosting demand for the U.S. currency.
(B) AUD/USD: ~$0.6970 (slightly weaker)
The Australian dollar fell 0.4% as investors avoided risk ahead of key interest-rate decisions and moved money into the safer U.S. dollar.
Stock Market — What Happened Today
U.S. Equities
S&P 500: 6,882.72 (−35.09 pts, −0.51% – last close)
Nasdaq Composite: 22,904.58 (−350.61 pts, −1.51% – last close)
U.S. stocks fell mainly because big tech and chip stocks dropped, after worries about the cost of AI spending and investors’ reaction to slower-than-expected growth reported by a few tech firms. AMD (-17%), Palantir (~ 12%), Qualcomm (-9%), and Nvidia (~-3–4%), dragging the Nasdaq lower.
South Korea
KOSPI: ~5,157.83 (−214.44 pts, −3.98%)
South Korean stocks fell as the global tech selloff spread into Asia. The KOSPI dropped nearly 4%, while Samsung Electronics fell ~5.9% and SK Hynix slid ~6.7%, as investors worried that heavy AI-related spending and slowing global semiconductor demand could lower the sales and profits of these chipmakers.
Volatility & Positioning
The VIX closed around 15.8, indicating market risk remained relatively low.
What Traders Are Watching
With markets still sensitive to tech headlines, traders are watching three things:
- Whether U.S. stocks can stabilize after tech-led selling.
- Whether gold and silver keep sliding as the dollar firms.
- Whether Asian markets, especially tech-heavy indexes like the KOSPI, see further pressureafter today’s steep drop.
Latest Available Market News — 4 February 2026
Tech stocks weakened as AI disruption fears hit software names, pulling the Nasdaq down 1.43% and the S&P 500 0.84%, while gold climbed 3.08% to $5,059/oz and silver surged 5.14% amid rising volatility (VIX ~18).
Catch up on: AI Shock Hits Tech as Nasdaq Slides 1.4% and Silver Surges around 5%
Sources
1. AP — U.S. closes lower as tech drags; Asia follows with Hong Ko ng down 1.2%
2. Reuters — Gold and silver fall sharply as the dollar strengthens
3. Reuters — Dollar firms; markets turn risk-off ahead of central bank decisions
4. Reuters — Asia shares slide as tech rout deepens; silver drops again
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