Overnight Market Brief – 16 February 2026

Major US equity indexes finished the week lower as the ongoing SaaS/software selloff deepened and AI disruption fears weighed on sentiment. The Dow declined 1.2%, the S&P 500 fell 1.4%, and the Nasdaq Composite dropped 2.1%, pressured by losses in technology, communication services, and consumer discretionary sectors. The software selloff extended further, with Nvidia down 9%, Broadcom down 7%, and AMD plunging 15% on the week, even as some chipmakers reported in-line or above-guidance results. The iShares Expanded Tech-Software Sector ETF fell another 3% midweek alone, with ServiceNow and Salesforce shedding 6% and 5% respectively in a single session.

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