(Feb 6) : Another burst of heavy selling pummeled software stocks and crypto, with weak jobs data exacerbating an equity rout spurred by concern over the impact of artificial intelligence on valuations. Stocks extended a slide from near-record levels, with the S&P 500 falling 1.2%. “Volatility could persist, particularly if near-term uncertainty increases.”Nearly 320 shares in the S&P 500 fell. “The consensus has flipped to software companies being AI victims – not beneficiaries,” he said. “Investors were willing to pay premium multiples for software companies that could reap efficiencies from utilizing AI in their coding and final products.

Source: The Edge Markets February 05, 2026 21:49 UTC