Software Stocks Drop, Silver Plunges 6% To $72: What's Moving Markets Tuesday?
Following the Presidents' Day holiday, the new week on Wall Street opened with the same fears weighing on software and tech stocks, as investors continued to grapple with potential AI-driven disruption.
The iShares Expanded Tech-Software Sector ETF (NYSE:IGV) fell more than 2.7% in midday New York trading, marking its 11th decline in the past 15 sessions and pushing year-to-date losses to nearly 25%.
Broader equity indices were largely flat on the day, though the tech-heavy Nasdaq 100 underperformed, slipping 0.3%.
Strength emerged in financials, which rebounded after weeks of weakness, while consumer staples lagged.
Within industry groups, travel-linked stocks outperformed. Norwegian Cruise Line Holdings Inc. (NYSE:NCLH) surged 11% after Elliott Investment Management disclosed a stake exceeding 10% and signaled plans to push for strategic changes following the company's prolonged underperformance.
Peers also advanced, with Carnival Corp. (NYSE:CCL) rising about 4% and Royal Caribbean Group (NYSE:RCL) gaining 3%.
Airbnb Inc. (NASDAQ:ABNB) added 3.7%, extending last week's post-earnings momentum.
Southwest Airlines Co. (NYSE:LUV) jumped more than 6% following a wave of analyst upgrades from Susquehanna and UBS.
Among streaming players, Paramount Skydance Corp. (NASDAQ:PSKY) climbed 6.3% after reports that Warner Bros Discovery Inc (NASDAQ:WBD) reopened talks with the company. The CBS owner has seven days to submit its best and final offer.
Commodities moved broadly lower after Iran's foreign minister said Tehran had reached an understanding with the U.S. on key principles. Crude oil fell 1.3% to $62 per barrel, while gold dropped 2.5% to $4,850 per ounce.
Silver slid nearly 6% to $72.80 an ounce.
Crypto sentiment was also weak, with Bitcoin (CRYPTO: BTC) falling more than 2% to $67,000.
Tuesday’s Performance In Major US Indices, ETFs
| Major Indices | Price | 1-day % |
| Dow Jones | 49,552.95 | 0.1% |
| S&P 500 | 6,841.20 | 0.1% |
| Nasdaq 100 | 24,685.30 | -0.2% |
| Russell 2000 | 2,640.23 | -0.2% |
According to Benzinga Pro platform:
- The Vanguard S&P 500 ETF (NYSE:VOO) flattened at $627.14.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) was unchanged at $495.88.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) eased 0.3% to $600.22.
- The iShares Russell 2000 ETF (NYSE:IWM) traded 0.3% lower to $262.45.
- The Financial Select Sector SPDR Fund (NYSE:XLF) outperformed, up 1.1%; the Consumer Staples Select Sector SPDR Fund (NYSE:XLP) lagged, down 1.8%.
Russell 1000’s Top 5 Gainers And Losers On Tuesday
Gainers
| Stock Name | % Change |
|---|---|
| Masimo Corporation (NASDAQ:MASI) | +34.44% |
| Norwegian Cruise Line Holdings Ltd. | +12.27% |
| Wingstop Inc. (NASDAQ:WING) | +11.50% |
| Sonoco Products Company (NYSE:SON) | +11.17% |
| Kyndryl Holdings, Inc. (NYSE:KD) | +8.55% |
Losers
| Stock Name | % Change |
|---|---|
| IPG Photonics Corporation (NASDAQ:IPGP) | -13.76% |
| Genuine Parts Company (NYSE:GPC) | -13.05% |
| The Wendy's Company (NASDAQ:WEN) | -9.56% |
| Fermi Inc. (NASDAQ:FERMI) | -8.55% |
| Flowers Foods, Inc. (NYSE:FLO) | -8.25% |
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