Stock Market 2 February 2026

U.S. stock futures pointed sharply lower early Tuesday, with S&P 500 futures down 1.33%, Nasdaq 100 off 2.42%, and Dow futures down 0.60%. Nasdaq futures weakness was reflected in premarket declines for major technology names. SoFi Technologies traded 2.3% lower premarket after Bullish listed SoFiUSD, its dollar stablecoin, while Space Exploration Technologies Corp. shares dropped 16.4% on Monday, falling below their IPO closing price and erasing about $400 billion in market cap. Intel fell about 8% premarket after a previous session gain, as investors weighed risks from debt-fueled AI spending and rate concerns. Super Micro Computer dropped 6.3% premarket despite a strong Monday performance, following a new data-center design launch and an analyst upgrade. IBM traded higher before the open, up 3.22%, after announcing a cyber-defense deal with OpenAI and new quantum-computing orders. Anthropic secured a partnership with Micron Technology, which will supply memory and storage and join its funding round ahead of Anthropic’s planned IPO. AI firms like OpenAI and Anthropic are drawing scrutiny as they prepare large IPOs, with concerns about capital sources and the sustainability of recent market enthusiasm. In Asia, South Korea’s KOSPI plunged 9.99%, its largest drop in over three months, after a selloff in chipmakers and regulatory warnings. Other notable moves included Amazon’s 4.75% decline, Keel Infrastructure’s 5.9% gain on AI data center leasing hopes, and Nokia’s 4.2% rise after expanding its AI partnership with Google Cloud.