Stock Selloff Extends as Tech, Silver Rout Worsens: Markets Wrap

Global stock markets are facing continued turbulence as losses in US technology stocks and cryptocurrencies weigh on investor sentiment. The downturn extended into Asian trading on Friday, February 6, 2026, with broad declines across major indices.

Market Downturn Deepens

Asian shares opened 1% lower, following declines on Wall Street. The Nasdaq 100 has experienced its worst three-day performance since April, losing over $1 trillion in value since Federal Reserve policymakers indicated a reluctance to further lower interest rates last week.

Tech Sector Under Pressure

Adding to the negative sentiment, Amazon.com Inc. Shares fell 10% in after-hours trading after announcing plans to invest $200 billion in artificial intelligence this year. US equity-index futures also opened lower, with the S&P 500 Index down 0.9% and the Nasdaq 100 sliding 1.5%.

Did You Know? Rio Tinto Group abandoned acquisition talks with Glencore Plc due to disagreements over valuation, halting a potential merger that would have created the world’s largest mining company.

Cryptocurrency and Precious Metals Decline

Bitcoin’s value has halved since October, trading below $61,000 on Friday. Silver experienced a significant drop, falling 8% after a 20% plunge in the previous session, while gold also continued its downward trend. Investors have been shifting towards the safety of Treasuries, driving down two-year yields to their lowest point in almost a month.

Broader Economic Concerns

The downbeat market mood was further exacerbated by recent labor market data. US job openings are at their lowest level since 2020, and jobless claims have risen, with January seeing the largest number of job cuts since 2009. According to Bret Kenwell at eToro, these figures suggest the US jobs market is “not firing on all cylinders.”

Expert Insight: The current market volatility appears to stem from a combination of factors, rather than a single catalyst, suggesting a broader reassessment of valuations and risk appetite among investors.

Corporate Developments

Beyond the market-wide trends, several corporate events unfolded. Blackstone Inc.-backed Liftoff Mobile Inc. Postponed its initial public offering amid the tech stock downturn. Roblox Corp., however, reported fourth-quarter user and booking numbers that exceeded analysts’ expectations.

Frequently Asked Questions

What is causing the decline in stock markets?

The decline is attributed to a combination of factors, including losses in US tech stocks and cryptocurrencies, concerns about valuations, and a shift in investor sentiment following signals from the Federal Reserve regarding interest rates.

How are cryptocurrencies performing?

Bitcoin has fallen below $61,000, representing a 50% decrease in value since October. Ether also experienced a decline, falling to $1,801.89.

What is happening with US Treasury yields?

Treasury yields are declining, with the yield on the 10-year Treasury falling almost two basis points to 4.16% on Friday. This indicates increased investor demand for safe-haven assets.

As investors navigate these uncertain times, will a renewed focus on fundamental value and profitability become the defining characteristic of the market moving forward?