Dow Sheds Over 600 Points Amid Growing AI Concerns

The Dow dropped 669 points on Thursday to settle below the psychologically significant 50,000 level, following Cisco System's (CSCO) dismal quarterly guidance. AI disruption fears spread like wildfire, with sectors including finance, real estate, and software seeing the most pressure, as investors worry about the impact this new technology may have on business models and the labor market. The Nasdaq fell 469 points, marking its third-straight session in the red alongside the S&P 500, while the Cboe Volatility Index (VIX) enjoyed an 18% pop.

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

• 18 stocks that look ripe for a short squeeze.
• What you need to know about exercising options.
• Plus, cloud stock eyes best day ever; QuantumScape stock gaps lower; and keep tabs on PANW.

5 Things to Know Today

1. The Trump administration revoked an Environmental Protection Agency (EPA) rule that classified carbon dioxide and other five greenhouse gases as a public health threat. (CNBC)
2. The National Foundation for Credit Counseling reported financial stress is spreading among higher earners, who are starting to miss payments. (Wall Street Journal)
3. Beat-and-raise helped this cloud stock charge higher.
4. Behind QuantumScape stock's post-earnings tumble.
5. Palo Alto Networks wraps up $25 billion acquisition.

Oil Prices Tumble After Dismal EIA Outlook

Oil prices fell on Thursday, after the International Energy Agency (IEA) cut its outlook for oil demand in 2026, noting it expects a significant crude surplus despite recent outages. March-dated West Texas Intermediate (WTI) crude tumbled $1.79, or 2.8%, to settle $62.84 a barrel.

Gold prices settled lower, with dashed prospects of a March interest rate cut catching up to the yellow metal. April-dated gold futures shed 2.7% to settle at $4,960.10 per ounce.