ON Semiconductor(US:ON) The Economic Times·2026-02-09 15:00Market Overview - The Dow Jones Industrial Average fell 224 points, or 0.45%, to 49,891.55, slipping below the key 50,000 mark, while the S&P 500 edged up 0.06% to 6,936.48, and the Nasdaq Composite rose 0.29% to 23,097.46, indicating a market divided between old-economy stocks under pressure and selective strength in technology and AI-linked names [18] Commodities - Gold futures surged 1.44%, reclaiming the $5,000 per ounce level, driven by Wells Fargo's bullish price target of $6,300 and a 15-month buying streak by China's central bank, highlighting its status as a hedge against economic uncertainty [2][11] - Silver also saw a significant increase, gaining over 4%, as investors turned to hard assets amid macro uncertainty and inflation risks [11] Cryptocurrency - Bitcoin fell below $69,000, continuing a volatile trend, with the Nasdaq Crypto Index dropping 2.66%, reflecting a cooling of speculative interest in the market [3][12] - The recent selloff marked Bitcoin's sharpest daily drop since 2022, indicating a lack of confidence in the cryptocurrency market [12] Technology Sector - The tech-heavy Nasdaq found support from selective buying in AI and semiconductor stocks, with NVIDIA trading higher due to continued confidence in long-term demand for AI infrastructure [7][15] - However, the software sector faced challenges, exemplified by monday.com, whose shares plunged 23% after issuing disappointing revenue and profit guidance, raising concerns about AI's impact on margins and pricing power [9][10] Upcoming Events - Markets are focused on upcoming earnings reports from major companies like Coca-Cola, McDonald's, and Cisco, as well as macroeconomic data including the January jobs report and inflation data, which could influence expectations for interest rates and growth [13]