economy
February 17, 2026
Global Stock Markets: Sharp Drop in Tech Stocks for the Second Consecutive Week
US technology stocks experienced a sharp decline for the second week in a row, and despite sectoral rotation and growth in other sectors, the S&P 500 index also ended the past week in the red.
TL;DR
- US technology stocks fell for the second week, with the S&P 500 down 1.4% and Nasdaq down over 2%.
- Inflation slowed more than expected in January, with the CPI rising 2.4% year-on-year.
- The labor market report showed 130,000 jobs added in January, and the unemployment rate fell to 4.3%.
- Sector rotation was a dominant investment strategy, with all seven leading tech companies in negative territory for 2026.
- Concerns about AI's impact and potential Fed policy tightening contribute to caution in the tech sector.
- T-Mobile (TMUS) shares rose 11.2% due to a strong long-term revenue projection, despite Q4 profit missing expectations.
- Pinterest (PINS) shares dropped nearly 17% after reporting Q4 results and current quarter guidance below market expectations.
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