The Economic Times·2026-02-24 00:15Market Overview - The S&P 500 fell by 1% to 6,837.75 points, with the Dow Jones Industrial Average dropping 1.7% to 48,804.06 and the Nasdaq composite sinking 1.1% to 22,627.27 [10] - Financials were the worst-performing sector, while consumer staples saw the largest percentage gain [10] - The healthcare index advanced, driven by Eli Lilly's performance after Novo Nordisk's obesity drug CagriSema underperformed in trials [10][11] Company Performances - Eli Lilly's stock rose by 4.9% following positive results from its drug Zepbound compared to Novo Nordisk's CagriSema [10][11] - Domino's Pizza experienced a surge after its fourth-quarter same-store sales exceeded Wall Street estimates [10] - PayPal's stock jumped due to reports of takeover interest [10] AI Impact on Stocks - Companies suspected of being undercut by AI-powered rivals faced significant losses, with CrowdStrike falling 9.8% and AppLovin dropping 9.1%, marking year-to-date losses of 25.3% and 43.5% respectively [2][3] - Blue Owl Capital, which has lent money to software companies at risk, fell 3.4%, bringing its year-to-date loss to 30.1% [6] Upcoming Events - Anticipation is building for Nvidia's profit report, with concerns that companies like Alphabet and Amazon may not recoup their investments in Nvidia's chips [7] Airline Industry - Airline stocks declined due to severe weather conditions, with United Airlines losing 5.2%, American Airlines down 4.9%, and Delta Air Lines falling 3.7% [7][10]