Wall Street Today: S&P 500, DJIA and Nasdaq Comp Sink as CRM, IBM, NVDA Losses Beat PLTR, VZ Gains
The S&P 500, Dow-30 and Nasdaq Composite all sank Tuesday as losses for Salesforce, IBM, Nvidia and other Big Techs outweighed gains for Verizon, Palantir and select large-cap stocks.
The $Nasdaq Composite Index (.IXIC.US)$ shed 336.92 points (1.4%) to a 23,255.19 close after briefly turning negative for 2026 as a whole before partly recovering.
The $S&P 500 Index (.SPX.US)$ likewise lost 58.63 ticks (0.8%) to 6,917.81, while the $Dow Jones Industrial Average (.DJI.US)$ gave back 166.67 points (0.2%) to 49,240.99.
Macro
The three indexes fell in part on weakness for some key tech stocks, including $Salesforce (CRM.US)$ (down 6.9%), $IBM Corp (IBM.US)$ (off 6.5%), $Microsoft (MSFT.US)$ (2.87% weaker) and $NVIDIA (NVDA.US)$ (2.84% lower). All are members of the Dow-30 and either the S&P 500, the Nasdaq Composite or both.
Meanwhile, $PayPal (PYPL.US)$ plunged 20.3% on poorly received quarterly earnings, worse-than-expected 2026 revenue guidance and word that it's replacing CEO Alex Criss with Enrique Lores from HP.
Other tech-related stocks to see big pullbacks Tuesday included $Figma Inc (FIG.US)$ (10.9% lower), $Adobe (ADBE.US)$(off 7.3% on a Piper Sandler downgrade), $ServiceNow (NOW.US)$ (7% weaker) and $Micron Technology (MU.US)$ (which lost 4.2%).
That more than offset strength in a handful of large-cap stocks such as $Palantir (PLTR.US)$ (which gained 6.9% on well-regarded earnings) and $Verizon (VZ.US)$ (up 3.7% in continued enthusiasm for earnings released on Friday).
Adding to the market's negative tone, cryptocurrencies resumed their recent slide – with Bitcoin hitting its lowest intraday levels since November 2024.
$Bitcoin (BTC.CC)$ fell as much as 7.1% to $73,072.45 – a roughly 15-month low – before partly recovering to trade at $75,022 as of about 3:30 p.m. New York time, down 4% on the day.
$Ethereum (ETH.CC)$ likewise lost 4.7% to $2,209.98 as of that hour, while $Solana (SOL.CC)$shed 4.6% to $98.90 and $Ripple (XRP.CC)$gave up 2.8% to $1.57.
Cryptos and tech stocks fell in an apparent risk-off move that's followed big recent declines for both.
But in one bright spot for markets, gold and silver strongly rebounded after tumbling from record highs last week.
$Silver Futures (MAY6) (SImain.US)$ soared as much as 15.7% in New York Comex trading to an $89.10-an-ounce session high, while $Gold Futures (APR6) (GCmain.US)$ added 7.9% at their best levels to $5,018.10 an ounce.
In economic news, the U.S. House passed a $1.2 trillion funding bill to end a four-day-old partial government shutdown. U.S. President Donald Trump signed the measure into law shortly thereafter, reopening thr affected government agencies.
However, the eagerly anticipated January U.S. jobs report from the Labor Department appears unlikely to come out on Friday morning as expected due to shutdown-related delays.
Moo-vers
The "Magnificent Seven" stocks followed the broader market's lead and mostly fell on Tuesday.
Six of the Mag-7 stocks sank, led by $Microsoft (MSFT.US)$ and $NVIDIA (NVDA.US)$ and their previously noted declines of 2.87% and 2.84%, respectively.
Other Mag-7 names to lose ground included $Meta Platforms (META.US)$ (off 2.1%), $Amazon (AMZN.US)$ (1.8% weaker), $Alphabet-A (GOOGL.US)$ (1.2% lower after briefly hitting an all-time intraday high earlier) and $Apple (AAPL.US)$(which shed 0.2%).
Elsewhere on Wall Street, Tuesday's noteworthy percentage gainers included:
-- Select rare-earth stocks, which rose on word Monday that the Trump administration wants to create an $11.7 billion strategic reserve of rare-earth metals. Gainers included $Critical Metals (CRML.US)$ (up 20.3%), $USA Rare Earth (USAR.US)$ (17.5% stronger) and $MP Materials (MP.US)$ (which added 9.3%).
-- $Teradyne (TER.US)$, 13.4% stronger. The robotics and test-equipment firm rose on well-regarded quarterly results.
-- Certain space stocks, which rebounded from recent losses on word that Elon Musk has merged his space company SpaceX with his artificial-intelligence firm xAI. Winners included $Rocket Lab (RKLB.US)$ (up 9.6%) and $Redwire (RDW.US)$ (3.5% better).
Conversely, Tuesday's major percentage decliners included:
-- $Novo-Nordisk A/S (NVO.US)$, down 14.6%. The pharma giant declined after guiding to a sales drop for 2026 as a whole on lower prices for its GLP-1 weight-loss drugs.
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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151755852 : surely
151256275 : Microsoft is a trillion dollar company. Aside from the fact it will not fail the only risk is how quickly can its share price rise. It has certain challenges: Data centre scaleout, OpenAI debacle with Nvidia and Amazon has competing cloud services
103664875 : crm
Slay2dudes : ok