Key Takeaways
- Amazon (AMZN) shares fell for a ninth straight session, the longest losing streak since 2006, erasing $470 billion in market value.
- Spot gold prices surged nearly 2% to hit a historic milestone of $5,019.69/oz as investors seek safety amid tech volatility and trade uncertainty.
- The US Supreme Court has designated February 20, 24, and 25 as opinion days, with a high-stakes ruling on President Trump’s signature tariffs looming.
- Former President Donald Trump issued a full endorsement for Hungarian Prime Minister Viktor Orbán, praising his "phenomenal results" in economic growth and border security.
Amazon Faces Historic Slump on $200 Billion Spending Fears
Amazon.com, Inc. (AMZN) shares continued their downward spiral on Friday, falling 0.8% to mark a ninth consecutive day of losses. This represents the company's longest losing streak in nearly 20 years, dating back to 2006. During this nine-day rout, the e-commerce and cloud giant has seen its stock price tumble by 18%, effectively wiping out $470 billion in shareholder value.
The sell-off was triggered by the company’s aggressive $200 billion capital expenditure plan for 2026, a figure that far exceeded Wall Street's expectations. Investors are increasingly concerned that the massive investment in artificial intelligence, custom chips, robotics, and satellite technology will weigh heavily on free cash flow. Analysts note that while the long-term potential of these investments is high, the market is currently punishing the lack of immediate returns.
Gold Shatters $5,000 Barrier Amid Market Volatility
Spot gold prices reached an unprecedented milestone on Friday, rising nearly 2% to trade at $5,019.69/oz. This surge marks the first time the precious metal has breached the psychological $5,000 level, fueled by a combination of a weakening dollar and a flight to safety. The record high reflects growing investor anxiety over the stability of the tech sector and the potential for renewed trade tensions.
Market participants are increasingly turning to gold as a hedge against inflationary pressures and geopolitical instability. The metal’s 16% year-to-date gain has significantly outperformed broader equity indices, which have struggled under the weight of high interest rates and mixed corporate earnings. Commodity strategists suggest that the $5,000 level may now serve as a new support floor if macroeconomic uncertainty persists.
Supreme Court Sets Dates for Landmark Tariff Ruling
The US Supreme Court has officially scheduled February 20, 24, and 25 as opinion days, signaling that a decision on the legality of President Trump's broad tariffs may be imminent. The case centers on whether the administration exceeded its authority under the International Emergency Economic Powers Act (IEEPA) to unilaterally impose duties. Current estimates suggest these tariffs are costing US importers more than $16 billion every month.
The upcoming rulings are expected to be the most significant market movers of the quarter, with billions of dollars in potential refunds at stake for retailers and manufacturers. If the Court invalidates the tariffs, it could provide a massive liquidity injection into the economy but may also trigger a shift in U.S. trade policy. Investors are bracing for high volatility in the retail and industrial sectors as the February 20 deadline approaches.
Trump Endorses Viktor Orbán Ahead of Hungarian Elections
Former President Donald Trump issued a formal endorsement for Hungarian Prime Minister Viktor Orbán on Friday, calling him a "true friend, fighter, and winner." Trump praised Orbán’s commitment to stopping illegal immigration and growing the Hungarian economy through nationalist policies. The endorsement comes ahead of Hungary’s parliamentary elections scheduled for April 12, 2026.
Trump highlighted the "spectacular achievement" of U.S.-Hungary relations during his administration and expressed a desire to continue working closely with the Prime Minister. This move reinforces the strong alliance between the two populist leaders and signals a continued focus on reciprocal trade and "law and order" initiatives. Geopolitical analysts suggest the endorsement may influence diplomatic sentiment within the European Union regarding trade and security cooperation.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.