5th February 2026 – Heavy rotation out of tech stocks continues as Tech Bears emerge

MPC Markets Morning Call · Feb 5, 2026 · 12m

The tech selloff deepened as investors rotated out of high-growth AI names, with AMD plunging 17% after weak guidance and Nvidia, Palantir, Snowflake, and Datadog also sliding. Alphabet briefly dropped before rebounding on news of massive AI investment plans, even as costs spooked investors. Outside tech, Eli Lilly and Super Micro Computer stood out with bullish outlooks. Meanwhile, softer U.S. employment data and geopolitical developments — including a Trump–Xi call and renewed tensions over Iran — added to market volatility. Oil rose and gold eased as traders reassessed risks across…