Washington (United States) (AFP) – The New York Stock Exchange ended mixed on Monday, with the technology sector suffering a new wave of sales despite opening in the green, against a backdrop of falling oil prices.
Published on: 02/11/2026 - 22:49
The Nasdaq index - with a strong technological coloring - lost 1.07% after a fall of 2.86% on Friday. The broader S&P 500 index fell 0.51% while the Dow gained 0.41%.
“The renewed weakness of stocks linked to AI (artificial intelligence, editor’s note) eclipses the positive effect” of the drop in the price of crude oil, observe analysts at Briefing.com.
After a sharp decline at the end of last week, the sector remains under pressure, with investors still questioning the ability of technology giants to make their massive spending on AI profitable.
Latest episode to date: the Oracle group was sanctioned (-8.85% to 119.10 dollars) after announcing on Monday its intention to raise nearly 20 billion dollars via an issue of shares and bonds to finance its investments in AI.
The chip specialist Marvell Technology fell 12.72% to $171.41, following its announcement of acquisition of the optical component manufacturer Lumentum (-18.59% to $684.40) as part of the development of AI infrastructures.
In their wake, chip behemoth Nvidia lost 1.26%, AMD fell 7.52% and Micron fell 5.78%. Alphabet (Google) dropped 0.30% and Meta fell 1.34%.
Investors are now awaiting the quarterly results of the giant Apple (-1.83%) after the close, the next big test for the sector.
“The market remains very feverish,” said Joe Zidle, analyst at Cresset. “Part of that is what we saw last week around AI.”
But, according to him, “part of this volatility is also accentuated by the mid-term legislative elections” in the United States, scheduled for Tuesday.
According to the analysts interviewed, the "midterms" could have repercussions on the values of AI, with - among other things - numerous debates around the construction of data centers, necessary for the development of the technology.
At the same time, the Dow Jones - made up of more traditional stocks - benefited from a rotation out of the technology sector.
But also the sharp decline in oil prices, with investors banking on a resumption of discussions between Washington and Tehran to end the conflict in the Middle East.
The price of a barrel of Brent from the North Sea - an international benchmark - lost 7.64%, to $104.77.
On the bond market, the ten-year yield on American government bonds eased slightly to 4.91% around 9:30 p.m. GMT compared to 4.93% at Friday's close.
In terms of indicators, market players are notably awaiting official employment figures for the month of October, which must be published on Friday.
Solid figures could “reinforce the scenario of a rate hike by the Fed (American central bank, editor’s note) in December,” notes Kevin Ford of Convera.
Net job creation was surprisingly weak in September.
© 2026 AFP
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