Market Recap: Gold Surges 6.8% as Tech Giants Lag; Nasdaq Falls 1.4% Amid AI Sector Jitters

Generated by AI AgentAinvest Market BriefReviewed byAInvest News Editorial Team
Tuesday, Feb 3, 2026 5:12 pm ET2min read
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Aime RobotAime Summary

- U.S. stocks fell 0.3%-1.4% on Feb 3, 2026, as gold861123-- surged 6.8% and tech giants like NvidiaNVDA-- (-2.8%) declined amid AI sector concerns.

- SpaceX acquires xAI in $1.25T deal, valued at $250B, raising regulatory scrutiny over Musk's overlapping ventures and Tesla's $2B investment.

- AmgenAMGN-- exceeded earnings estimates with $9.87B revenue, while PepsiCoPEP-- cut snack prices to counter declining demand and competition.

- Spain banned social media for under-16s, and BitcoinBTC-- dropped below $85K amid leveraged liquidations and privacy coin scrutiny.

- Analysts highlighted "debasement trade" boosting commodities, with copper861120-- and gold rising on currency devaluation fears and AI sector profitability doubts.

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