Stocks, Bitcoin, Silver Prices Plummet

Tech stocks, crypto assets, and precious metals all see sharp declines amid economic uncertainty

Feb. 5, 2026 at 10:15pm

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Wall Street saw a broad sell-off on Thursday, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all dropping over 1%. The decline was led by a plunge in technology stocks, as well as a steep drop in the prices of Bitcoin and other cryptocurrencies. Silver and gold prices also resumed their sharp slides. The sell-off impacted companies tied to the crypto industry, like Coinbase and MicroStrategy, as well as tech giants like Alphabet. Some bright spots included chip maker Broadcom and healthcare company McKesson, which reported stronger than expected earnings.

Why it matters

The sharp declines across stocks, cryptocurrencies, and precious metals reflect growing economic uncertainty and volatility in the markets. Investors are grappling with concerns over rising interest rates, high inflation, and the potential for a recession. The sell-off highlights the fragility of the current market environment and the potential for further turbulence ahead.

The details

The S&P 500 fell 1.2%, the Dow Jones Industrial Average dropped 1.2%, and the Nasdaq Composite sank 1.6%. Bitcoin plunged below $65,000, roughly half its record high set last fall. Gold prices fell 1.2% and silver dropped 9.1%. Stocks of companies tied to the crypto industry, like Coinbase and MicroStrategy, were hit hard. Tech giants like Alphabet also declined, despite reporting stronger than expected earnings, as investors focused on rising costs. However, some companies benefiting from the AI boom, like Broadcom, saw gains, as did healthcare firm McKesson.

  • On Thursday, February 6, 2026, the major US stock indexes all saw sharp declines.
  • Bitcoin's price fell below $65,000 on Thursday, roughly half its record high set in the fall.

The players

S&P 500

A stock market index that tracks the performance of 500 large-cap US publicly traded companies.

Dow Jones Industrial Average

A stock market index that tracks 30 large publicly traded companies.

Nasdaq Composite

A stock market index that tracks the performance of over 3,000 stocks listed on the Nasdaq exchange, primarily technology companies.

Bitcoin

The world's first and most well-known cryptocurrency.

Coinbase Global

A leading cryptocurrency exchange platform.

MicroStrategy

A business intelligence software company that has made significant investments in Bitcoin.

Alphabet

The parent company of Google, a major technology conglomerate.

Broadcom

A semiconductor company that produces chips used in a variety of electronic devices.

McKesson

A healthcare company that distributes pharmaceutical products and provides technology solutions.

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The takeaway

The market sell-off highlights the fragility of the current economic environment, with investors grappling with concerns over rising interest rates, high inflation, and the potential for a recession. The broad declines across different asset classes underscore the need for investors to remain cautious and diversified in the face of ongoing market turbulence.