Wall Street Braces for Pivotal CPI Report as AI Disruption Fears Drive Deep Tech Sell-Off
As of Friday, February 13, 2026, U.S. stock markets are under pressure following a sharp decline in the previous session. Investors are currently focused on the January Consumer Price Index (CPI) report, which is expected to influence the Federal Reserve's next move regarding interest rates.
Market Performance Summary
The major indices saw significant losses during the last full trading session on February 12, 2026:
S&P 500 Index: Fell 1.16% to close at 6,860.54.
Dow Jones Industrial Average: Dropped 0.84% (approximately 420 points) to 49,702.
Nasdaq Composite: Led the decline, sliding 1.82% to 24,742.30.
Russell 2000 Index: Small caps retreated 1.98% to 2,616.59.
Key Market Drivers
AI Jitters: Concerns over the high capital expenditure required for artificial intelligence infrastructure and fears of AI-driven displacement in the software sector triggered a tech sell-off.
Interest Rate Stakes: Recent strong jobs data has fueled expectations for a more hawkish Federal Reserve. Markets are closely watching today's inflation print to see if it supports a rate cut by June 2026.
Commodity Slump: Precious metals faced a "cliff-like" drop; Silver plunged nearly 10% and Gold fell below the $5,000 mark on Thursday.
Notable Stock Movements
Cisco (CSCO): Shares tumbled 11-12% following a weak margin forecast.
Megacaps: Apple, Amazon, and Meta all fell more than 3% as part of a broader rotation out of tech.
Novocure (NVCR): Shares surged 32% after receiving FDA approval for a new pancreatic cancer treatment.
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