{"id":58422,"date":"2026-02-12T17:38:38","date_gmt":"2026-02-12T21:38:38","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/wall-street-tumbles-on-mixed-earnings-precious-metals-plunge\/58422\/"},"modified":"2026-02-12T17:38:38","modified_gmt":"2026-02-12T21:38:38","slug":"wall-street-tumbles-on-mixed-earnings-precious-metals-plunge","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-tumbles-on-mixed-earnings-precious-metals-plunge\/58422\/","title":{"rendered":"Wall Street Tumbles on Mixed Earnings; Precious Metals Plunge"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Major US indices closed sharply lower<\/strong>, with the <strong>NASDAQ<\/strong> plummeting <strong>2.03%<\/strong>, the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> down <strong>1.56%<\/strong>, and the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a><\/strong> falling <strong>1.33%<\/strong>.<\/li>\n<li>Several major companies reported quarterly earnings with mixed results. <strong>Applied Materials<\/strong> surged on a strong outlook, while <strong>Coinbase<\/strong> and <strong>Pinterest<\/strong> missed revenue estimates.<\/li>\n<li><strong>Precious metals experienced a dramatic sell-off<\/strong>, with <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a><\/strong> plunging <strong>4.1%<\/strong> and <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a><\/strong> tumbling <strong>11%<\/strong> as traders reportedly covered equity losses.<\/li>\n<li><strong>Standard Chartered<\/strong> slashed its year-end <strong>Bitcoin<\/strong> forecast to <strong>$100,000<\/strong> and warned of a potential drop to <strong>$50,000<\/strong>, leading to a downgrade of <strong>Coinbase<\/strong> to &quot;sell.&quot;<\/li>\n<li><strong>OpenAI<\/strong> announced the launch of <strong>GPT-5.3-Codex-Spark<\/strong>, its first AI model to run on <strong>Cerebras<\/strong> chips, signaling a move to diversify beyond <strong>Nvidia<\/strong>.<\/li>\n<\/ul>\n<h2>Market Sell-Off Intensifies<\/h2>\n<p>U.S. stock markets ended the day with significant losses, erasing earlier gains. The <strong>NASDAQ<\/strong> led the decline, unofficially closing down <strong>468.49 points<\/strong>, or <strong>2.03%<\/strong>, at <strong>22,597.98<\/strong>. The <strong>S&amp;P 500<\/strong> fell <strong>108.47 points<\/strong>, or <strong>1.56%<\/strong>, to <strong>6,833.00<\/strong>, while the <strong>Dow Jones Industrial Average<\/strong> dropped <strong>664.63 points<\/strong>, or <strong>1.33%<\/strong>, to finish at <strong>49,456.77<\/strong>.<\/p>\n<p><em>The broad-based sell-off came as investors digested a flurry of corporate earnings reports and grappled with ongoing geopolitical tensions.<\/em> North Korea issued a warning to South Korea regarding airspace violations, stating that counterattack options are on the table for future incidents.<\/p>\n<h2>Corporate Earnings Paint a Mixed Picture<\/h2>\n<p>A wave of quarterly earnings reports revealed a mixed bag of results for major corporations. <strong>Applied Materials<\/strong> (<a href=\"\/stock\/AMAT\">AMAT<\/a>) was a bright spot, beating first-quarter revenue and earnings estimates. The company reported revenue of <strong>$7.01 billion<\/strong>, surpassing the estimated <strong>$6.87 billion<\/strong>, and an adjusted EPS of <strong>$2.38<\/strong>, ahead of the <strong>$2.20<\/strong> estimate. <strong>AMAT<\/strong> also provided a strong second-quarter forecast, with expected revenue of <strong>$7.65 billion \u00b1 $0.50 billion<\/strong> and adjusted EPS of <strong>$2.64 \u00b1 $0.20<\/strong>, both above analyst expectations.<\/p>\n<p>On the other hand, <strong>Coinbase<\/strong> (<a href=\"\/stock\/COIN\">COIN<\/a>) reported fourth-quarter revenue of <strong>$1.78 billion<\/strong>, missing the <strong>$1.83 billion<\/strong> estimate. The cryptocurrency exchange also saw its subscription and services revenue fall short of expectations. The disappointing results came as <strong>Standard Chartered<\/strong> downgraded <strong>COIN<\/strong> to &quot;sell&quot; and cut its year-end <strong>Bitcoin<\/strong> forecast to <strong>$100,000<\/strong>, warning of a potential slide to <strong>$50,000<\/strong>.<\/p>\n<p>Other notable earnings reports included:<\/p>\n<ul>\n<li><strong>Rivian<\/strong> (<a href=\"\/stock\/RIVN\">RIVN<\/a>) reported Q4 revenue of <strong>$1.29 billion<\/strong>, beating the estimated <strong>$1.26 billion<\/strong>. However, vehicle deliveries of <strong>9,745<\/strong> were slightly below the estimate of <strong>9,964<\/strong>.<\/li>\n<li><strong>Airbnb<\/strong> (<a href=\"\/stock\/ABNB\">ABNB<\/a>) announced Q4 revenue of <strong>$2.78 billion<\/strong>, exceeding the <strong>$2.71 billion<\/strong> estimate, but its EPS of <strong>$0.56<\/strong> missed the <strong>$0.67<\/strong> expectation.<\/li>\n<li><strong>Vertex Pharmaceuticals<\/strong> (<a href=\"\/stock\/VRTX\">VRTX<\/a>) posted Q4 revenue of <strong>$3.19 billion<\/strong>, in line with estimates, while its adjusted EPS of <strong>$5.03<\/strong> was slightly below the <strong>$5.07<\/strong> forecast.<\/li>\n<li><strong>Pinterest<\/strong> (<a href=\"\/stock\/PINS\">PINS<\/a>) missed Q4 revenue and earnings estimates, reporting revenue of <strong>$1.32 billion<\/strong> versus the <strong>$1.33 billion<\/strong> estimate and an adjusted EPS of <strong>$0.67<\/strong> against a <strong>$0.69<\/strong> forecast.<\/li>\n<\/ul>\n<h2>Commodities and Tech Under Pressure<\/h2>\n<p>The commodities market saw a dramatic sell-off, with <strong>gold<\/strong> plunging <strong>4.1%<\/strong> and <strong>silver<\/strong> plummeting <strong>11%<\/strong>. <strong>Copper<\/strong> also fell <strong>2.7%<\/strong>. <em>Traders were reportedly dumping metals to cover losses in the equity markets.<\/em> Despite the sharp decline, some banks remain bullish on gold, citing geopolitical tensions.<\/p>\n<p>In the tech sector, <strong>Google<\/strong> (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) is facing a new EU antitrust probe over its search ads. The European Commission alleges that the company artificially raises auction prices. This could add to the <strong>\u20ac9.5 billion<\/strong> in fines Google has already faced in Europe.<\/p>\n<p>In a significant development in the AI space, <strong>OpenAI<\/strong> has launched <strong>GPT-5.3-Codex-Spark<\/strong>, its first AI model to run on chips from <strong>Cerebras Systems<\/strong>. <em>This move is seen as an effort by OpenAI to diversify its chip suppliers beyond <strong>Nvidia<\/strong> and compete with rivals like <strong>Google<\/strong> and <strong>Anthropic<\/strong> in the AI coding market.<\/em><\/p>\n<h2>Other Notable Headlines<\/h2>\n<ul>\n<li>The <strong>U.S.<\/strong> has sold over <strong>$1 billion<\/strong> in Venezuelan oil and expects to sell another <strong>$5 billion<\/strong> in the coming months. Washington will control the sales and fund flows until a representative government is established in Venezuela.<\/li>\n<li><strong>Former President Trump<\/strong> has reversed his decision to exclude Democratic governors from the annual White House meeting, inviting all governors. However, not all Democrats were invited to a separate dinner, indicating ongoing political tensions.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Major US indices closed sharply lower, with the NASDAQ plummeting 2.03%, the S&amp;P 500 down 1.56%, and the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[1945,4394,4555,6295,6787],"class_list":["post-58422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-commodities","tag-corporate-earnings","tag-cryptocurrency","tag-antitrust","tag-us-stocks"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/58422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=58422"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/58422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=58422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=58422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=58422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}