Markets Update: Tech Selloff, Precious Metals Surge Amid Earnings and Shutdown End

The Nasdaq Composite (^IXIC), S&P 500 (^GSPC), and Dow Jones Industrial Average (^DJI) experienced significant declines on Tuesday, February 03, 2026, as tech stocks faced a wave of negative earnings and geopolitical concerns. Tech-heavy Nasdaq Composite (^IXIC) plummeted nearly 2%, S&P 500 (^GSPC) lost 1.3%, and Dow Jones Industrial Average (^DJI) fell around 0.9% or approximately 400 points. Palantir's (PLTR) robust quarterly performance initially boosted market sentiment, but the momentum shifted as major tech firms like Nvidia (NVDA), Amazon (AMZN), and Microsoft (MSFT) continued their downturn. AMD's (AMD) after-hours earnings report, which could shed light on the AI trade, will be closely watched amidst concerns of Big Tech overspending. PayPal (PYPL) saw its stock drop over 16% after missing earnings and forecast estimates. The Walt Disney Company (DIS) named Josh D'Amaro as its new CEO, replacing Bob Iger, which saw its shares fall. Meanwhile, gold (GC=F) surged over 6% to its highest daily gain since 2008, while silver (SI=F) rebounded dramatically from Monday's losses, jumping over 10%.