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7:05 PM · 5 February 2026

Daily summary: Red dominates on both sides of Atlantic

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  • The broader market is moving into a risk-off mode. Weak macroeconomic data and disappointing results from technology companies are pushing the market to multi-week lows.
  • Wall Street is posting heavy losses for another consecutive day. The Russell 2000 is leading the declines late in the session, with futures down more than 1.6%, while Nasdaq 100 futures are close behind. The S&P 500 and the Dow are holding up better, with futures limiting losses to around 1.2%.
  • Alphabet and Amazon are in the spotlight. Another record-high CAPEX at Google has spooked investors. Amazon and Qualcomm are falling in the wake of disappointing Microsoft results. The e-commerce giant will report earnings today, these could either provide a reason for the sell-off to pause or for it to deepen.
  • U.S. labor market data has been released. Challenger layoffs rose from 35k to 108k. Weekly jobless claims beat expectations, rising to 231k versus 213k expected. JOLTS job openings fell by nearly half a million to 6.5 million, versus expectations for an increase to 7.2 million.
  • European indices closed mostly lower. The biggest decliners were Poland’s WIG20 and Spain’s IBEX, with losses reaching 2%. The main indices in Germany and the UK limited declines to below 1%. The CAC 40 held up relatively well, down just 0.29%.
  • The ECB kept rates unchanged. Despite maintaining its stance and outlook, the statement was marked by above-average uncertainty.
  • Another sharp sell-off in precious metals: gold limited losses to 2%, while silver is down more than 13% and returns to around $75 per ounce.
  • Oil is slightly lower, down about 1.7%. WTI crude falls to $63 per barrel.
  • In FX markets, the pound is seeing notable declines, down about 0.8% against major currencies. This is driven by an unexpectedly “dovish” shift in sentiment within the BoE’s Monetary Policy Committee.
  • Another wave of steep losses is visible in the crypto market. Deep sell-offs are evident across most tokens. Bitcoin is down as much as 8% today, falling to $66,000. Ethereum is performing similarly poorly, down more than 7% and dropping back below $2,000.
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