Thursday, February 5, 2026…4:10 PM ET
[4:00 PM ET closing prices for stocks; 3:45ish for commodities and bonds.]
Volatility continued to lash the markets as another bout of heavy selling hit software stocks and crypto. As a result of a third straight day of such price action, particularly in Nasdaq, Treasuries climbed, sending the 2-year yield to the lowest in almost a month.
Oil (WTI) fell back below $64, reversing a two-day advance as easing geopolitical tensions and demand concerns pressured price. Iran confirmed it will hold negotiations with the U.S. in Oman on Friday, reducing the immediate risk of military conflict and potential supply disruptions (i.e., Strait of Hormuz).
Gold and Silver had a rough day, Silver’s latest recovery attempt failing to hold amid intense volatility across precious metals.
The move unfolded alongside deteriorating U.S. labor signals, including 108,400 job cuts in January (Challenger, Gray & Christmas report) and a jump in initial jobless claims for the week.
And then there was Bitcoin. At one point it was down to $63,000, down from the Oct. 5, 2025, all-time high of $124,700.
Shares in Michael Saylor’s ‘Strategy’ (MSTR), the world’s largest corporate holder of Bitcoin, hit $105, with the all-time high being $457 set last July 16.
There is immense carnage out there.
Separately, the Bank of England and European Central Bank both held the line on interest rates Thursday, though the BOE’s Monetary Policy Committee vote was 5-4; four members voting to reduce the benchmark rate by 25 basis points.
Freddie Mac’s weekly 30-year fixed-rate mortgage reading, released Thursdays, ticked up to 6.11% today.
Dow Jones -592, -1.2%, [48908]
S&P 500 -84, -1.2% [6798]
Nasdaq -363, -1.6% [22540]
Oil (WTI) $63.30
Gold $4830
Silver $73.50
Bitcoin $63,550 [4:00 PM ET]
U.S. 2-yr. 3.47%
U.S. 10-yr. 4.20%
Japanese 10-yr. 2.22%
Check out my Week in Review, posted Friday, around 4:30 PM ET.
Brian Trumbore
