By Jim Edwards
Publication Date: 2026-02-13 11:15:00
S&P 500 futures are flat this morning before markets open in New York, after the index fell 1.57% yesterday as traders fled stocks exposed to AI. The market is now in negative territory for the year.
Tech stocks led the decline yesterday, with the Nasdaq Composite down 2%. Accordingly, the software sector of the S&P 500 has fallen by 27% since October Financial Times, That gives you an idea of how worried investors are that AI will simply replace software makers. Gold – which was supposed to be a safe haven – posted a sharp decline yesterday, an indicator that traders are generally just looking to get their money out of assets. The price is again below $5,000 per troy ounce.
Asia had a rough day – Japan’s Nikkei 225 lost 1.21% and China’s CSI 300 lost 1.25% at the close this morning. However, markets in the UK and Europe remained stagnant, suggesting that sellers may take a breather today.
It’s not just tech stocks that are in the crosshairs. Losses were imposed…
