The Amazon logo and lettering can be seen on the facade of the Amazon Germany headquarters.
Sven Hoppe | Pictures Alliance | Getty Images
Amazon in the following steps a colleague of the technological giant Microsoftand not in a good way. Shares of the e-commerce and cloud giant fell more than 11% in extended trading after the company reported. fourth quarter earnings it fell short of expectations.
The big hit, however, came from Amazon’s projected capital spending of $200 billion, well above analysts’ estimates of $146.6 billion and sharply higher than the projected $131 billion in 2025.
This figure is also a dwarf The alphabet is designed The cap range of $175 billion to $185 billion gave traders and analysts pause. The message from the markets was clear: investors are wary of how much money Big Tech will spend to catch up with the next phase of artificial intelligence.
Higher prices and fears that AI will drive down the value of software firms fueled the technology sell-off on Thursday. The Nasdaq Composite decreased by 1.59% Nvidia, Oracle and Qualcommamong others. Stocks were further under pressure High unemployment rate in the US in January. The S&P 500 1.23% down, putting it in the red for 2026, while Dow Jones Industrial Average 1.2% retreated.
However, the market’s decline is a “positive sign” for Stephen Tuckwood, chief investment officer at Modern Wealth Management, who says “the market is more cautious than irrationally excited at this point”.
Perhaps reflecting some of that sanity, bitcoin fell to $62,736 as of 7:50 a.m. (6:50 p.m. ET) in Singapore, its lowest level since November 2024. Other cryptocurrencies such as Ether and Solana are also losing ground this week.
Apart from markets, politics will be in focus in Asia this weekend. Japan goes to snap election this Sunday – latest polls show Prime Minister Sanae Takaichi’s Liberal Democratic Party clear win. Thailand will also elect its political leaders on the same day, but investors are likely to focus more on Japan given Takaichi’s potential impact. expansionary fiscal stance on the yen and government bonds, both of which play a major role in global markets.
— CNBC’s Annie Palmer contributed to this report.
What you need to know today
Trump to decide on investigations of Fed chairsUS Treasury Secretary Scott Bessent announced on Thursday. This was in response to a question from Senator Elizabeth Warren Trump will investigate Fed Chair candidate Kevin Warsh, if he doesn’t cut rates.
US job cuts in January hit the highest level since 2009. Outplacement firm Challenger, Gray & Christmas said Thursday. Employers reported 108,435 were dismissed in one month118% higher than the same period a year ago and 205% higher than December 2025.
Novo Nordisk says it will take legal action His and Hers After a telehealth provider announces that it will launch a cheaper copy version according to News Wegovy weight loss pills. It costs $49, well below Novo’s $149 for the branded pill.
The S&P 500 is in negative territory for 2026after the index posted losses on Thursday. Other major US indices also fell sale of technology shares. Pan-European Stoxx 600 lost 1.05%. Bank of England and European Central Bank rates remained unchanged.
(PRO) What can you buy in this “Software Armageddon”? Wedbush analyst Dan Ives believes five software stocks still owns amid a market downturn in the sector.
And finally…
As precious metals continue to slide after Friday’s historic sell-off, investment banks are doubling down on gold but urging caution against going all-in on silver.
UBS strategists said they view gold’s move as “normal volatility in an ongoing structural uptrend, not the end of a bull market.” Analysts at Goldman Sachs also remained bullish in a note on Tuesday despite the selloff.
“We see significant upside risk to our $5,400/tonne gold outlook through December 2026,” they said.
– Chloe Taylor