Stock market today: Dow, S&P 500, Nasdaq sink as tech gets hit as AI disruption fears grow; gold, bitcoin sink

Market Overview - US stocks experienced a significant decline, with the Dow Jones Industrial Average falling approximately 1.3% (over 650 points), the S&P 500 dropping 1.6%, and the Nasdaq Composite decreasing by over 2% as investors reacted to fears of AI-driven disruption in technology shares [2][4] - Gold futures decreased by 3%, and Bitcoin's value fell to around $65,000 as investors adopted a risk-off approach [2] Sector Impact - The recent sell-off in software stocks has led investors to identify sectors vulnerable to AI disruption, with trucking, logistics, and real estate services stocks being notably affected [3] - Cisco Systems saw its stock decline over 12% due to a pessimistic profit outlook despite an increase in sales, while other major tech companies like Nvidia, Meta, Amazon, and Apple also experienced significant losses, with Apple dropping around 5% [4] Economic Indicators - The weekly jobless claims report indicated a smaller decline than expected, following a strong nonfarm payrolls report that showed the US economy added twice as many jobs as anticipated in January, complicating expectations for Federal Reserve policy [5] - The upcoming Consumer Price Index report is anticipated, with a softer reading potentially easing inflation concerns while maintaining economic growth [4] Earnings Reports - McDonald's shares increased after the company reported earnings that exceeded expectations [6] - Upcoming earnings reports from Coinbase, Applied Materials, and Rivian are expected to be significant, with all three scheduled to be released after market close [6]