S&P 500 and Nasdaq Drop on Second-Day Tech Sell-Off Pre-Google Earnings (02-04-2026)

U.S. stocks fell on February 4, 2026, as AI-driven selling weighed on tech and software, with investors awaiting Alphabet (GOOG, GOOGL) earnings. The S&P 500 (^GSPC) declined about 0.5% and the Nasdaq Composite (^IXIC) about 1.5%, while the Dow Jones Industrial Average (^DJI) rose 0.4% on a rotation into value and blue-chip names. Nvidia (NVDA) dropped over 3%, Google (GOOG, GOOGL) near 2% pre-earnings, Amazon (AMZN) over 2%, and Tesla (TSLA) more than 3%. JPMorgan said strong earnings are no longer enough without clear AI tailwinds; AMD shares fell as a cautious sales outlook hurt its AI-positioning. ADP reported January nonfarm payrolls added 22,000 vs. 45,000 expected, with the official jobs report delayed to Wednesday, Feb. 11. Gold (GC=F) rose to near $5,000 but retreated, and Bitcoin (BTC-USD) near $72,000 as geopolitical tensions pressured sentiment. Eli Lilly (LLY) rose on upbeat 2026 guidance from weight-loss drugs, while Novo Nordisk (NVO, NOVO-B.CO) fell after forecasting a sharp sales decline for Ozempic and Wegovy.