US stocks open in the red: S&P 500 slips 0.3%, Dow downs 140 points

• Silver plunged approximately 30% on Friday in its worst single-day decline since 1980, while gold dropped roughly 9%; both metals remained down over 3% on Monday despite modest rebounds
• Over 100 S&P 500 companies are set to report earnings this week, including Amazon and Alphabet, with overall earnings growth tracking toward the strongest performance in four years
• Political uncertainty increased as the federal government entered a partial shutdown over the weekend, and President Trump's nomination of Kevin Warsh as Fed chair added monetary policy concerns

Market Summary: US Stocks Open Lower Amid Crypto Weakness and Political Uncertainty

Market Performance:

US equities opened in negative territory Monday, February 2, 2026, with the S&P 500 and Nasdaq Composite each declining 0.3%. The Dow Jones Industrial Average fell 143 points (0.3%), extending volatility from the previous week.

Key Drivers:

Market sentiment weakened as Bitcoin dropped below $80,000 for the first time since April, marking its lowest level in nearly a year. The cryptocurrency later recovered modestly to trade above $78,000. The selloff followed dramatic losses in precious metals Friday, with silver plunging 30%—its worst single-day decline since 1980—while gold dropped roughly 9%. Both metals rebounded slightly Monday but remained down over 3%, reinforcing a risk-off mood across markets.

Corporate Earnings:

Over 100 S&P 500 companies are scheduled to report results this week, including Amazon and Alphabet. Disney provided an early positive, beating analyst forecasts. Despite strong earnings overall—Deutsche Bank notes growth is tracking to be the strongest in four years—markets have reacted unevenly, with several major companies including Microsoft experiencing post-earnings selloffs despite solid results.

Economic Data:

Investors await Friday's January US jobs report, with economists expecting 55,000 payroll additions, which could influence monetary policy expectations.

Political Uncertainty:

Stocks face additional headwinds from political developments. President Trump's nomination of Kevin Warsh as Federal Reserve chair to replace Jerome Powell adds monetary policy uncertainty. A partial federal government shutdown began over the weekend after Congress failed to pass funding legislation, though House Speaker Mike Johnson expects resolution by Tuesday.

The synchronized selloff across crypto, metals, and equities underscores heightened investor caution after months of strong alternative asset gains.