S&P 500 Marks 3rd-Straight Loss, Turns Negative for 2026

The Dow lost nearly 600 points on Thursday, while the Nasdaq suffered a triple-digit drop as well, marking its third-straight loss alongside the S&P 500 as investors continued to rotate out of tech. The S&P 500 also joined the Nasdaq in negative territory for 2026 as Bitcoin (BTC) -- which fell below key support at $67,000 -- dragged crypto-adjacent stocks lower. Concerns around increased AI spending and a global memory shortage weighed, while the latest jobs data pointed to labor market weakness. Amid today's steep losses, the Cboe Volatility Index (VIX) hit its highest level since November.

Continue reading for more on today's market, including:

• Lemonade stock poised for a short-term bounce.
• AI data center stock could bounce off bullish trendline.
• Plus, recapping Fed basics; chip stocks to watch; and retail stock breaking records.

5 Things to Know Today

1. Anthropic launched Claude Opus 4.6, its latest AI model, noting that it's better at coding, sustaining tasks, and creating higher-quality professional products. (CNBC)
2. Hims & Hers Health (HIMS) introduced a weight-loss pill with the same active ingredient as Novo Nordisk's (NVO) Wegovy at a lower starting price. (Barron's)
3. Reviewing the Federal Reserve's role amid proposed changes.
4. These 2 chip stocks staged opposite post-earnings reactions.
5. Soaring Coach sales helped Tapestry stock to record highs.

Oil Prices Slide Ahead of U.S.-Iran Talks

Oil prices fell on Thursday, after U.S. and Iran officials agreed to talk in Oman tomorrow, easing concern around a potential conflict. March-dated West Texas Intermediate (WTI) crude fell $1.63, or 2.5%, to at $63.51 a barrel.

Gold priced also settled lower, with silver tumbling as well amid heightened volatility. February-dated gold futures dropped 2.1% to settle at roughly $4,845.50 per ounce.