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Global stock index dips with tech under pressure, dollar higher
MSCI's global equities gauge lost ground on Wednesday with technology stocks leading losses on Wall Street, while the dollar broadly rose after the latest U.S. economic data and silver outperformed gold following their recent plunge.
Feb. 4, 2026 at 3:23pm
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The MSCI global equities index declined on Wednesday, with technology stocks leading losses on Wall Street. The U.S. dollar broadly rose after the latest economic data, and silver outperformed gold following their recent plunge. Oil prices rallied for a second consecutive day as the U.S. and Iran appeared to disagree on some elements of their plan for nuclear talks expected to take place on Friday.
Why it matters
The performance of the global stock market, particularly the technology sector, and the strength of the U.S. dollar are closely watched indicators of the overall health of the economy. The tensions between the U.S. and Iran also have the potential to impact energy prices and geopolitical stability.
The details
The S&P 500 value index was up 1% while the growth index was down 1.7%, indicating a shift from growth stocks to value stocks. The Nasdaq Composite fell 1.25%, with losses in the U.S. software and services index slowing to a 0.4% drop after a drop of more than 12% over the last five days. The concerns about AI-fueled disruption to the data analytics, professional services, and software industries contributed to the market volatility.
- On Tuesday, the U.S. shot down an Iranian drone and armed boats approached a U.S.-flagged vessel in a key waterway, causing oil prices to spike.
- On Friday, the U.S. and Iran are expected to hold talks on their nuclear plan.
The players
MSCI
A global investment research firm that provides stock market indexes and other investment tools.
Anthropic
An artificial intelligence research company that recently launched plug-ins for its Claude Cowork agent, raising concerns about AI-fueled disruption to the data analytics, professional services, and software industries.
Kevin Warsh
A former Federal Reserve governor who was nominated by U.S. President Donald Trump, and is expected to take a less dovish stance on monetary policy than the previous Fed leadership.
What they’re saying
“A week ago the markets had a clear vision what the year was going to look like. Since then, some much of that has been called into question.”
— Robert Phipps, Director at Per Stirling Capital Management (Reuters)
“In some regards, the stock market was a bug in search of a windshield. Something was going to knock it down from the euphoric perspective. Warsh was a fine nomination but that was part of the windshield. Agentic AI was another big part of it.”
— Robert Phipps, Director at Per Stirling Capital Management (Reuters)
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.
