US stock market today: Dow slips below 50,000 as S&P 500 and Nasdaq rise – The Dow Jones Industrial Average fell 224 points, or 0.45%, to 49,891.55, slipping back below the key 50,000 mark in Monday morning trade. At the same time, the S&P 500 edged up 0.06% to 6,936.48, and the Nasdaq Composite rose 0.29% to 23,097.46. The split move highlights a market sharply divided between old-economy stocks under pressure and selective strength in technology and AI-linked names. Safe-haven assets surged.
While blue-chip industrials faced selling pressure, gold futures surged 1.44% to reclaim the $5,000 per ounce level, fueled by a massive year-end forecast upgrade to $6,300 from Wells Fargo. Simultaneously, Bitcoin experienced a “freefall” in relative terms, dropping 2.14% to sit at $69,144, as the digital asset struggled to maintain the $70,000 support level amid a broader “risk-off” rotation. The market’s unease is palpable as investors await a delayed January jobs report and critical inflation data, creating a tense atmosphere where disappointing corporate guidance—specifically in the software sector—can trigger massive sell-offs.
The flight to safety was clearly visible in the commodities market. Gold prices jumped $71.60 to $5,051.40, a 1.44% increase that underscores its status as the ultimate hedge against economic uncertainty. The surge was driven by a combination of Wells Fargo’s bullish price target of $6,300 and a 15-month buying streak by China’s central bank. As global debt levels rise and a partial U.S. government shutdown causes delays in economic reporting, institutional money is moving back into physical bullion.
Conversely, Bitcoin (BTC) fell below $69,000, continuing a volatile streak that saw it drop significantly last week. The Nasdaq Crypto Index fell 2.66% on Monday, reflecting a cooling of the “speculative fever” that had gripped the market in late 2025.
Why the Dow Jones fell below 50,000 today
The Dow’s decline was driven by concentrated selling in large, price-weighted stocks rather than broad market weakness. Industrials and legacy technology names lagged, while defensive flows moved into commodities. Investors reduced exposure ahead of key macro events, especially the delayed January employment report from the Bureau of Labor Statistics. ADP’s latest private payrolls data already missed expectations, raising concerns that cracks may be forming in the labor market. Any confirmation of slowing job growth could reshape expectations for Federal Reserve policy later this year.
Another factor weighing on the Dow is valuation fatigue. After months of gains, some investors are locking in profits in cyclical names. The Dow’s structure amplifies these moves. A few high-priced stocks can pull the entire index lower, even when the broader market is steady. That dynamic explains why the Dow slipped decisively while the S&P 500 and Nasdaq managed small gains.
S&P 500 and Nasdaq rise as AI-linked stocks stay resilient
While the Dow struggled, the tech-heavy Nasdaq found support from selective buying in AI and semiconductor names. NVIDIA traded higher, reflecting continued confidence in long-term demand for AI infrastructure despite short-term volatility. The S&P 500 also held firm, supported by megacap technology and communication services stocks. Still, the gains were modest. Investors are not chasing rallies aggressively. Instead, they are waiting for clarity from upcoming earnings and economic releases. This cautious optimism suggests the market is balancing strong structural themes, like AI investment, against near-term risks tied to growth and inflation. The result is a narrow advance rather than a broad rally.
Software stocks slide as AI disruption fears return
The sharpest single-stock move of the session came from monday.com. Shares plunged as much as 23% after the company issued revenue and profit guidance that fell short of Wall Street forecasts. The selloff underscores lingering investor concern that AI could compress margins and disrupt pricing power across the software sector.
This reaction was swift and unforgiving. It signals that markets are no longer willing to give software companies the benefit of the doubt. Even solid growth is being questioned if guidance does not clearly show how AI will enhance profitability. The move in monday.com has revived broader fears that AI, while transformative, may also intensify competition and reduce long-term returns for some software firms.
Gold surges above $5,000 as bitcoin and crypto fall
Commodities sent a clear risk signal. Gold futures reclaimed the $5,000 level, rising $71.60 in a single session. Silver jumped even more sharply, gaining over 4%. Investors are turning to hard assets as hedges against macro uncertainty, sticky inflation risks, and geopolitical noise.
Crypto markets moved in the opposite direction. Bitcoin slid below $69,000, while ether and other major tokens also declined. Last week’s selloff marked bitcoin’s sharpest daily drop since 2022, and confidence has yet to fully recover. The contrast between rising gold and falling crypto suggests investors are prioritizing traditional safe havens over speculative assets during this phase of uncertainty.
Earnings and data ahead keep Wall Street in wait-and-see mode
Markets are now focused on what comes next. ON Semiconductor reports after the close, while heavyweight names including Coca-Cola, McDonald’s, and Cisco are due later this week. On the macro side, Wednesday’s January jobs report and Friday’s inflation data could reset expectations for interest rates and growth.
There were bright spots. STMicroelectronics surged after announcing a multibillion-dollar, multiyear deal to supply chips to Amazon for its cloud data centers. The agreement highlights the scale of AI-driven capital spending, with Amazon recently forecasting up to $200 billion in capital expenditures, far above prior plans.
Top stocks today: Most active movers on Wall Street
NVIDIA jumped 2.17% to $189.43 on heavy volume as AI demand optimism stayed strong.
Hims & Hers Health plunged 25% to $17.21 after sharp selling pressure.
Momentus surged 25% to $7.50 on speculative buying.
Intel fell 5.24% to $47.94 amid semiconductor weakness.
Amazon slipped 2.08% to $205.95 despite strong AI spending plans.