Shares of chipmaker Nvidia, which stands to benefit from increased industry spending on AI, declined 1.4%. The S&P 500 software and services index fell 4.6%, down for a seventh straight session. As traders dialled back exposure to pricey AI stocks, the market's rotation into relatively cheaper stocks gained steam in recent days. The S&P 500 declined 1.23% to end the session at 6,798.40 points. The S&P 500 posted 44 new highs and 10 new lows; the Nasdaq recorded 113 new highs and 425 new lows.

Source: The Star February 05, 2026 23:30 UTC