Xin Lang Cai Jing·2026-02-05 19:53Market Overview - US stock market continued to decline, with the Dow Jones dropping 481.77 points, a decrease of 0.97%, closing at 49019.53 points; the Nasdaq fell 317.27 points, down 1.39%, at 22587.31 points; and the S&P 500 index decreased by 73.58 points, down 1.07%, closing at 6809.14 points [3][12] - Investors are adopting a risk-averse stance, leading to declines in major assets including Alphabet, Bitcoin, and silver [1][12] Company Performance - Alphabet's stock fell by 1.6% after the company projected a significant increase in artificial intelligence spending, estimating capital expenditures to reach between $175 billion and $185 billion in 2026, nearly double the expected amount for 2025 [3][12] - Qualcomm also faced pressure, with its stock dropping significantly due to a weaker-than-expected earnings outlook amid a global memory shortage [3][12] Cryptocurrency and Precious Metals - The cryptocurrency market is experiencing intensified sell-offs, with Bitcoin falling below the critical support level of $70,000 [3][12] - Silver prices faced renewed pressure, dropping by 16% after a two-day rebound, following a nearly 30% decline the previous week [3][12] Labor Market Insights - A report from Challenger, Gray & Christmas indicated that US employers announced 108,435 layoffs in January, marking the highest number for that month since the 2008 financial crisis, representing a 118% increase year-over-year and a 205% surge compared to December 2025 [3][16] - The number of job openings in the US unexpectedly fell to the lowest level since 2020, with vacancies decreasing from a revised 6.93 million in November to 6.54 million, below economists' expectations [19][20]