Big-Name Earnings, Selloffs Highlight Busy Week on Wall Street

• Bitcoin plummeted below $61,000 during the first four days of the week before recovering Friday, while gold and silver also experienced significant volatility throughout the period
• The Dow Jones is on track for a weekly gain while the Nasdaq faces its fourth consecutive weekly loss, with both the S&P 500 and Nasdaq now negative for 2026
• Major earnings reports drove sector movements, with tech companies like AMD contributing to sector weakness while Dow members including Amgen staged post-earnings rallies

Market Summary: Big-Name Earnings, Selloffs Highlight Busy Week on Wall Street

Key Market Movements

Wall Street experienced a turbulent week marked by broad-based selloffs across multiple asset classes. The S&P 500 and Nasdaq are headed for weekly losses, with the Nasdaq facing its fourth consecutive weekly decline. Both indexes slipped into negative territory for 2026. The Dow Jones is poised for a weekly gain despite Tuesday's pullback. The VIX volatility index reached its highest level since November, signaling elevated investor anxiety.

Asset Class Performance

Significant drawdowns affected precious metals, cryptocurrencies, and technology stocks. Bitcoin plummeted below $61,000 before recovering Friday. Gold and silver experienced severe volatility throughout the week. Chip stocks faced particular pressure as investors rotated out of technology sector positions.

Corporate Earnings

The week featured a flood of quarterly results with mixed outcomes. Technology sector disappointments came from AMD, with other unnamed tech companies contributing to sector weakness.

Positive earnings reactions included Dow components Amgen (AMGN) and two other unnamed blue-chips, all posting gains. Other notable reports came from Chipotle (CMG) and multiple restaurant chains.

Several companies experienced significant post-earnings volatility, though specific names were partially redacted in the source material.

Market Implications

The flight from technology stocks pressured broader market indices, particularly growth-oriented indexes like the Nasdaq. Elevated volatility and negative year-to-date performance suggest increased caution among investors. The divergence between the Dow's weekly gain and tech-heavy index losses indicates sector rotation into traditional blue-chip names.

Next week will bring additional earnings reports and economic data releases that could further influence market direction.