Stock Market Today, Feb. 23: Nvidia Earnings Loom as Tariff Concerns Drive Dow 800 Points Lower

The Motley Fool

by newsfeedback@fool.com (Howard Smith)

February 23, 2026

AI-Generated Deep Dive Summary

The stock market experienced significant declines on February 23 as investors grappled with concerns over tariffs and artificial intelligence (AI) developments. The S&P 500 dropped 1.04% to close at 6,837.75, while the Nasdaq Composite fell 1.13% to 22,627.27. The Dow Jones Industrial Average was hit hardest, dropping 1.66% to 48,804.05. These declines were driven by a combination of tariff-related anxieties and fears surrounding AI's impact on legacy industries. The lingering effects of last week’s Supreme Court decision on tariffs weighed heavily on investor sentiment. President Trump’s announcement over the weekend to increase tariffs from 10% to 15% added to the uncertainty, with Wall Street interpreting this as a potential threat to global trade and corporate profitability. Meanwhile, IBM saw its shares slide after Anthropic’s new AI tools raised concerns about disruptions in traditional IT services. In other notable moves, Novo Nordisk faced significant selling pressure following disappointing data from its CagriSema obesity drug, which underperformed compared to Eli Lilly's weight-loss treatments. This highlights the ongoing challenges in the pharmaceutical sector and the competitive nature of the biotech industry. The broader market decline reflects a shift in investor sentiment, with many moving away from riskier growth stocks toward perceived safer investments. This downturn underscores the delicate balance between economic policy and technological disruption. For finance readers, it emphasizes the importance of staying attuned to both macroeconomic trends and sector-specific developments. Investors are increasingly prioritizing stability over growth, as evidenced by the outperformance of safer assets during this period of heightened uncertainty. The combination of tariff concerns and AI-related anxieties has created a challenging environment for risk assets. As global trade tensions remain a key focus, market participants will likely continue to navigate volatile conditions, with corporate earnings—such as Nvidia’s upcoming results—expected to play a crucial role in shaping near-term market direction.

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Originally published on The Motley Fool on 2/23/2026