Stock market today: S&P 500, Nasdaq fall for 2nd day as tech slides on AI worries with Google earnings ahead

Market Overview - US stocks mostly fell as Wall Street assessed earnings and awaited Alphabet's results, with the S&P 500 down about 0.5% and the Nasdaq Composite down over 1.5% [1] - The Dow Jones Industrial Average rose 0.4% as investors shifted from tech stocks to blue-chip names [1] AI Impact on Tech Stocks - Wall Street is struggling due to fears of AI disruption, leading to a sell-off in software stocks that affected global markets [2] - Major tech stocks like Nvidia fell over 3%, Google dropped nearly 2%, Amazon slid over 2%, and Tesla sank more than 3% [2] Earnings and Market Sentiment - Even better-than-expected earnings are insufficient to convince the market unless companies can demonstrate that AI will be beneficial [3] - Advanced Micro Devices saw its shares plummet due to a weak sales outlook, raising concerns about its competitiveness against Nvidia [3] Labor Market Insights - An ADP report indicated that employers added only 22,000 jobs in January, significantly below the expected 45,000 [4] - The delay in federal jobs data has made private data increasingly important, with the official jobs report rescheduled for next Wednesday [4] Commodity Movements - Gold gained amid US-Iran tensions but fell back below $5,000 an ounce after a significant slump [5] - Bitcoin losses accumulated, trading near $72,000 at one point [5] Pharmaceutical Sector Performance - Eli Lilly's stock surged after a positive 2026 profit forecast driven by high demand for weight-loss drugs [6] - In contrast, Novo Nordisk's shares tumbled after it forecasted a steep drop in sales, shocking investors [6]