Nvidia's 5.5% slide drags global tech lower from prior session levels
Investors turned more defensive as mega-cap weakness pulled U.S. and Asian equities off recent highs. Global equities retreated from prior closes after Nvidia's 5.5% drop pressured AI-linked positioning. The Nasdaq fell from 22,878, and the S&P 500 from 6,908.86. Gold was trading at 5,185.29/oz. The dollar firmed from 97.70, and USD/JPY softened from 156.36.
Today's Snapshot
- Hang Seng Index: 26,630.72 (−384.70 pts, −1.44%)
- Nasdaq Composite: 22,878 (−273.69 pts, −1.18%)
- S&P 500: 6,908.86 (−37.27 pts, −0.54%)
- Gold: $5,185.29/oz (+21.09 pts, +0.41%)
- Silver: $88.29 (+0.53 pts, +0.61%)
Global Markets
Precious Metals
Gold: $5,185.29/oz
Gold rose from its prior close as easing Treasury yields reduced the opportunity cost of holding non-yielding bullion. A relatively stable dollar limited stronger upside momentum, keeping gains moderate.
Silver: $88.29/oz
Silver advanced more decisively, benefiting from the same yield-driven support as gold while also reflecting its higher sensitivity to industrial demand expectations and shifts in risk appetite.
FX
Dollar Index (DXY): 96.28 (+0.09 pts, +0.09%)
The dollar strengthened modestly from its prior close as mild flight-to-quality flows followed the tech-led equity decline. However, falling yields limited broader upside momentum.
USD/JPY: 156.09
The currency eased from its prior level as lower U.S. yields narrowed the interest-rate differential at the margin, allowing the yen to strengthen modestly amid cautious risk sentiment.
Stock Market — What Happened Today
United States
- Nasdaq Composite: 22,878 (−273.69 pts, −1.18%)
- S&P 500: 6,908.86 (−37.27 pts, −0.54%)
The Nasdaq declined sharply from its prior close as Nvidia's 5.5% drop triggered a broader reassessment of AI-linked valuations and positioning.
Major Movers:
- NVIDIA (−5.5%) — Reported Q4 revenue of $68.1B, beating estimates, but shares fell as strong results were largely priced in, and investors questioned valuation sustainability amid elevated AI expectations.
- C3.ai (−18.5%) — Issued weaker-than-expected revenue guidance and announced a 26% workforce reduction, raising concerns about growth visibility and execution in the enterprise AI space.
Hong Kong
Hang Seng Index: 26,765.72 (−1.44%)
Hong Kong equities declined from their prior close as tech names tracked the U.S. selloff. Alibaba (−3.57%) fell amid broad de-risking in Chinese internet stocks following Nvidia's drop, while WuXi Biologics (−7.45%) slid on renewed regulatory and geopolitical concerns affecting biotech exporters. The weakness reinforced rotation away from high-beta growth shares.
Volatility & Positioning
VIX rose to 17.95, signaling a modest increase in market caution.
What Traders Are Watching
- U.S. Treasury yield direction — further moves will influence equity valuation support, particularly for growth stocks.
- AI earnings follow-through — whether Nvidia's reaction extends across semiconductors and mega-cap tech.
- Geopolitical developments — escalation risks could lift safe-haven flows and volatility further.
“You can't predict. You can prepare.”
Yesterday's Market News – February 26, 2026
U.S. equities rallied as the Nasdaq climbed 1.26% and the S&P 500 gained 0.81% following Nvidia's strong earnings and upbeat guidance. Gold eased 0.20% to $5,215.89/oz and silver fell 1.79% as risk appetite improved and the dollar slipped to 97.58.
Read full recap →Sources
- Reuters — Equities — Wall St ends lower as tech rally stalls, AI fervor wanes after Nvidia results
- Reuters — Commodities — Gold broadly steady as fall in Treasury yields balances tempered safe-haven bids
- Reuters — Global Markets — Asian shares wobble, yen and Treasuries rise on AI, geopolitical woes
- Reuters — FX — Dollar slips as Nvidia buoys investor hopes in absence of tariff news
- Reuters — FX (Macro context) — China halts yuan rally, rates view drives other currencies in February
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