On January 23, 2026, US equities tumbled, driven by risk aversion and unraveling tech/bitcoin trades. The Dow dropped 0.8%, the S&P 500 and Nasdaq each fell 0.8%. Alphabet’s increased AI spending plans triggered a 5% stock decline, despite positive reactions for Broadcom and Nvidia. Concerns over a global memory shortage impacted Qualcomm, which slid 7%. Bitcoin prices dropped below $67,000 and silver prices fell by 16%. Additionally, January layoffs reached the highest level since the global financial crisis, raising concerns about labor market weakness. Traders anticipate the upcoming Bureau of Labor Statistics’ jobs report and potential Federal Reserve interest rate cuts.
