Cyprus Times

Wall Street: Under New Tech Pressure

Published February 18, 2026, 09:09
Wall Street: Under New Tech Pressure

Wall Street is under pressure from the technology sector, with Meta Platforms and Nvidia recording losses. The Dow Jones is down 0.20%, the S&P 500 is down 0.60% and the Nasdaq is down 1.06%. Software stocks, such as Autodesk and Salesforce, are also moving downwards, as there is uncertainty about whether artificial intelligence tools will replace specialized industry software providers. The iShares Expanded Tech-Software Sector ETF (IGV) is down 1%, widening losses from the beginning of the year to 21%. Wall Street is in its second consecutive week of losses, as concerns about the disruption that artificial intelligence could cause are hitting various sectors. Investors are awaiting the release of the Personal Consumption Expenditures (PCE) index on Friday and the minutes of the Federal Reserve meeting on Wednesday. At the same time, the US added 10,250 new jobs in the week ending January 31, according to Automatic Data Processing Inc. (ADP).