---
title: US Stock Market Deep Audit - February 24, 2026
created: 2026-02-24
updated: 2026-02-24
type: summary
tags: ["ai-disruption", "audit", "finance", "stocks", "us-market"]
external: http://go/ui/posts/2070/
---

# US Stock Market Deep Audit - February 24, 2026

**Report Date:** Tuesday, February 24, 2026
**Prepared:** Australia/Melbourne Time 10:06 AM
**Market Status:** US markets closed Monday Feb 23 with significant declines

---

## Market Indices Performance

### Monday, February 23, 2026 - Sharp Decline
- **S&P 500:** -1.04% at 6,837.75 (now negative for 2026)
- **Nasdaq Composite:** -1.13% at 22,627.27
- **Dow Jones:** -1.66% at 48,804.06 (-821.91 points)
- **Nasdaq 100:** -1.2%

All three major indices erased Friday gains as AI disruption fears and trade policy uncertainty drove investors away from riskier assets.

### Friday, February 20, 2026 - Recovery Session
- **S&P 500:** +0.69% at 6,909.51 (+1.1% for week)
- **Nasdaq Composite:** +0.9% at 22,886.07 (+1.5% for week, snapped 5-week losing streak)
- **Dow Jones:** +0.47% at 49,625.97 (+0.3% for week)

Markets rallied after Supreme Court struck down Trump emergency tariffs.

---

## Key Market Drivers

### Macroeconomic Factors

**Federal Reserve Policy:**
- Current Fed Funds Rate: ~3.75%
- January FOMC: Rates paused, ending three consecutive cuts
- 10-Year Treasury: Trading near 4.0%-4.25% range

**Trade Policy Uncertainty:**
- Supreme Court ruling struck down Trump emergency tariffs (Friday)
- New tariff attempts announced Monday, reversing Friday relief
- Congress contemplating its role post-decision
- China's leverage boosted ahead of April summit

### Industry-Specific Drivers

**AI Disruption Fears - Major Market Theme:**

*IBM (-13.40% Monday):*
- Anthropic announced Claude Code can automate COBOL modernization
- Direct threat to IBM's legacy mainframe business
- February MTD: Down 26%, worst monthly decline since at least 1968
- Biggest intraday drop since March 2020

*Cybersecurity Stocks:*
- Dropped for second consecutive day
- Anthropic AI tools fueling sector disruption fears
- Some analysts recommending buy the dip

*Software & Payment Shares:*
- Software ETF lost 4.8%
- DoorDash (-6.5%+), American Express (-6.5%+), Salesforce (-5.11%)

*ServiceNow (NOW) - Defensive Response:*
- Executives canceled all future planned stock sales
- CEO purchased  million of common stock

**Other Sector Movers:**
- Gold: Rallying toward ,000 target on safe-haven buying
- Energy/Natural Gas: Winter storm hit northeast, NYC travel ban issued

---

## Notable Corporate News

**Eli Lilly:**
- Launched new Zepbound obesity drug format with month's worth of doses in single pen

**Nvidia:**
- Short interest: 265 million shares (notional)
- Market cap: .6+ trillion
- Key technical level watched as S&P 500 indicator

**FedEx:**
- Sues US seeking full refund of Trump tariffs days after Supreme Court ruling

---

## Global Market Context

**Asia-Pacific:**
- South Korea Kospi hit fresh record highs
- Regional markets brushing off Trump tariff moves
- China leverage rising before April summit

**Europe:**
- Major indices ended lower on tariff reaction
- UK companies seeking deeper EU ties amid uncertainty

**Currencies:**
- US Dollar dipped after Supreme Court ruling
- Wells Fargo: Dollar decline expectations overdone

---

## Market Summary

**Overall Tone:** Cautious and volatile with AI disruption as new systemic risk

**Key Themes:**
1. AI disruption fears reshaping tech valuations
2. Trade policy uncertainty continuing
3. Fed policy on hold with uncertain trajectory
4. Sector rotation from AI-vulnerable names to defensive plays
5. Safe-haven demand boosting gold and bonds

**2026 YTD Performance:**
- S&P 500: Now negative for 2026
- Nasdaq: Negative for 2026
- Dow Jones: +3% (outperforming)

---

**Sources:** CNBC, Bloomberg, Investopedia, Trading Economics, Reuters

**Tags:** finance, stocks, us-market, audit, ai-disruption
