Today’s Market Recap: Tech Bulls Retreat on AI Risks, Precious Metals and Energy Prices Spike

Anthropic's latest AI breakthroughs triggered a widespread sell-off across the software sector as investors weighed the threat of technological disruption. Shares of Reuters (TRI) witnessed a dramatic intraday plunge exceeding 20%, with legal and data service providers feeling the most significant pressure. Morgan Stanley analysts noted that Anthropic’s entry into the legal tech space has heightened competitive fears. A trader at Jefferies described the SaaS market environment as a "doomsday" scenario where positions were liquidated regardless of price. The consensus remains that if industry leaders like Microsoft are struggling, the outlook for smaller, more vulnerable firms is increasingly grim.

AMD (AMD) shares dipped more than 7% in after-hours trading as a cautious first-quarter forecast overshadowed record-breaking fourth-quarter results. The company reported a historic revenue milestone of $10 billion, fueled by its data center segment which surged 40% to reach $5.4 billion. While earnings per share exceeded consensus by 16%, the projected Q1 revenue of $9.8 billion fell short of high-end market expectations. Furthermore, while the MI308 chip saw strong demand in China, export restrictions are expected to cost the company $440 million by 2025. Despite these hurdles, the CEO reaffirmed a long-term goal of 60% annual growth in the data center business.

Nvidia (NVDA) CEO Jensen Huang dismissed rumors of a rift with OpenAI, confirming the company’s participation in what he called the largest private funding round in history. Rebutting claims that their massive collaborative deal had stalled, Huang reiterated that the partnership is progressing as planned. This follows Sam Altman’s recent praise for Nvidia’s hardware, which he described as the premier choice for AI development. Nevertheless, Nvidia's stock faced downward pressure, sliding over 4% on Tuesday as the market continued to react to earlier reports of potential friction between the two tech giants.

SpaceX formally merged with xAI to integrate artificial intelligence with aerospace exploration, positioning the combined entity for a potential $1.5 trillion valuation. An internal memo confirmed the consolidation of Elon Musk’s AI and space ventures, a move intended to streamline assets ahead of a public listing. For Google, this development is particularly lucrative; its 7.4% stake, born from an initial $900 million investment, is now projected to reach a value of $111 billion. This 120-fold return highlights how Alphabet has quietly secured a dominant position in future infrastructure while capturing massive unrealized gains from the xAI-driven valuation surge.

Novo Nordisk (NVO) shares plummeted over 10% after the company projected its first annual revenue decline in nine years for 2026. The pharmaceutical giant expects sales to drop by 13% that year, significantly worse than the 1.4% decline analysts had modeled. While current demand for the weight-loss drug Wegovy remains high, the company cited increasing pricing pressure in the United States as a major headwind. Although the global market for GLP-1 medications is still growing, Novo Nordisk anticipates that a rise in sales volume will be unable to offset the impact of lower net selling prices.

The chart below highlights the ten most actively traded stocks in the current market. With their substantial trading volumes and high liquidity, these names serve as key benchmarks for tracking global market dynamics.