Tuesday, February 3, 2026

The major indices in the US stock market experienced a decline on February 3, 2026, with the S&P 500 falling by 0.84%, the Nasdaq dropping by 1.43%, and the Dow sliding by 0.34%. The overall market sentiment was bearish, with investors rotating out of technology stocks and into other sectors. The market action was led by the energy, materials, and consumer staples sectors, which rose by 3.24%, 2.11%, and 1.62%, respectively.

The technology sector was a major loser, with the healthcare, communication, and technology sectors falling by 1.02%, 1.61%, and 2.19%, respectively. Key movers included Novo Nordisk, Shopify, and Accenture, which fell by 14.6%, 9.8%, and 9.6%, respectively. The decline in the technology sector was attributed to a flood of earnings reports, which showed disappointing results from several major companies. The energy sector, on the other hand, rose due to a surge in oil prices. Palantir was an exception, climbing after its earnings report.