6 February 2026
US stocks fell on Thursday as sell-offs in tech shares continued amid ongoing concerns over the return from AI capex. The S&P 500 closed 1.2% lower.
US Treasuries rallied (yields dropped) following soft labour market data and weakness in the stock markets. 10-year yields slid 9bp to 4.18%.
European stocks were down on Thursday as investors monitored corporate earnings and key central bank policy decisions. Euro Stoxx 50 nudged 0.7% lower. The German DAX lost 0.5%, and the French CAC was down 0.3%. In the UK, the FTSE 100 fell 0.9%.
European government bonds were mixed. 10-year German bund yields shed 2bp to 2.84%, as 10-year French bond yields closed flat at 3.45%. In the UK, 10-year gilt yields edged up 1bp to 4.56%.
Asian stock markets traded mostly lower on Thursday, led by declines in tech shares amid lingering worries over AI developments. Korea’s Kospi slid 3.9%, while Japan’s Nikkei 225 lost 0.9%. China’s Shanghai Composite was down 0.6%, whereas Hong Kong’s Hang Seng reversed early losses to end 0.1% higher. Elsewhere, India’s Sensex fell 0.6%.
Crude oil prices declined on Thursday. WTI for March delivery settled 2.8% lower to settle at USD63.3 a barrel.
The European Central Bank remained firmly on hold, keeping interest rates at 2.00% as expected, confirming that inflation should stabilise at its 2% target in the medium term, as the economy remains resilient in a challenging global environment.
The Bank of England left interest rates on hold at 3.75% at the first Monetary Policy Committee meeting of 2026, after an unexpectedly tight majority of 5-4, with Governor Bailey saying there is scope for further cuts later in the year.
The Reserve Bank of India is expected to leave interest rates on hold at 5.25% in February, as the central bank continues to gauge the impact on the economy of previous policy rate cuts.
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