CNBC Business News Update - Market Close: Stocks Sell Off, The S&P 500 Index Is Negative For The Year, Bitcoin Drops Near $64,000 Wiping Out All Trump Election Gains 2/5/26

Episode Date: February 5, 2026

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I'm Jessica Eddinger, CNBC. Wall Street will open Friday morning after a sell-off for stocks. On a number of disappointing job market reports and Bitcoin took a dive, the S&P 500 index now negative for the year, the tech sell-off continued on Thursday. The Dow fell 592 points, 1 and a quarter percent. Microsoft shares let it lower. They were down almost 5%. The S&P 500 index was down 84 points. That was 1.5%. The NASDAQ down 1.63 points. Shares of Nvidia down more than 1%. Now, the NASDAQ, it's on pace for its worst week since the Trump tariff announcement in April of last year. Amazon shares plunged 10% in after hours trading Thursday on mixed quarterly results at a big forecast for AI spending. some investors, they're just getting out.

It's still profit-taking from companies that have done exceptionally well. People have had huge profits in all of these Mag 7 names. And I think there's been a little bit of nerves and people are really on tender hooks saying, when is it going to crack? Farcrest Capitals, Michael Farr, on CNBC. Investors were spooked by some tough jobs data Thursday. The U.S. is a consumer economy. If people don't have jobs, they don't spend.

the fewest number of job openings in the U.S. in December in five years as the labor market continues to weaken the labor department out with that Joltz report on job opportunity and labor turnover. Big miss. 6.5 million. We were looking for 7.2 million prior 7.1. That's a huge drop in the number of job openings for December. CNBC's Carl Keentany. In meantime, add that to a pop in the number of Americans applying for unemployment benefits. last week the most in two months and announced job cuts hit a 17 year high last month. Outplacement firm Challenger Gray and Christmas also said January had the lowest January hiring since 2009. Challenger layoffs, they were a challenging number here, 108,000. That was the worst January since 2009, UPS and Amazon, among those with the big layoff announcements. CNBC Senior Economics Reporter Steve Leesman.

Bitcoin dropping 13% Thursday, breaking below 64,000. The sell-off intensifying as doubts about crypto as an investment grow. Already wiped out all of its post-election gains. It's down 20% this week and 47% off the record high. It hit just four months ago. Deutsche Bank put it bluntly. Traditional investors are losing interest, and that is a problem for the digital asset market. CNBC's Mackenzie Sagalos.

The number of Americans searching the term cash advance on Google up more than 50% in the past month. Over the same time last year, CNBC's Google Trends Analysis could point to more consumers being cash-strapped, looking for ways to buy short-term financial breathing room. Some will turn to credit cards. Others will turn to cash advance apps. On Friday's watch list, no jobs report. It's been delayed because of that quick government shutdown from earlier this week. It'll come out next week.

Earnings will get Friday include AutoNation, Under Armour, and Biogen. We'll also get the latest on consumer sentiment, and Friday night will be the opening ceremony for the 26 Winter Olympics in Italy. Jessica Ettinger, CNBC. Support Black Heritage Month when you join the sharks and shop the tank. Level up your social games. Scan the code, shop the tag. Tuesday's 9 Eastern, CNBC.