This week’s stock shocks as of 6th February, 2026
US markets delivered a gut-punch this week, with a sharp selloff in precious metals stealing the spotlight. The S&P 500 shed roughly 2.5–3%, the Dow fell about 2%, and the Nasdaq dropped nearly 4.8% as volatility returned with a vengeance. What started as a tentative recovery quickly unravelled by midweek.
The real drama played out in commodities. Silver cratered as much as 11% in a single session, erasing a fragile two-day bounce and dragging gold down with it. Precious metals’ collapse rippled through mining stocks and rattled the broader market’s confidence. This wasn’t a gentle pullback—it felt like a reminder that 2026’s volatility isn’t finished yet.
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Market recap 📊
The S&P 500 closed the week near 6,800 points, down from roughly 6,976 the prior Friday, per Bloomberg data. The Nasdaq Composite tumbled to about 22,470, whilst the Dow slipped to around 42,500.
Monday and Tuesday saw cautious optimism as indexes clawed back some of the previous week’s losses. But Wednesday delivered the knockout blow—silver’s sharp plunge triggered a broader risk-off move that extended through Thursday. By Friday’s close, futures pointed to further weakness heading into the weekend.
The selloff wasn’t confined to metals. Tech stocks wobbled on renewed valuation concerns, whilst defensive sectors couldn’t quite catch a sustained bid. CNBC noted that the week’s action felt less like profit-taking and more like genuine fear creeping back into positioning.
Sentiment watch: Fear resurfaces after calm 😶🌫️
The CNN Fear & Greed Index averaged around 38 this week, down sharply from the prior week’s 52. Readings ranged from a low of 31 on Thursday (borderline fear territory) to a high of 45 on Monday.
The index spent roughly 60% of the week in neutral, 40% in fear, and zero days in greed. That shift from neutral to fear happened fast—precisely what you’d expect when a commodity market implodes overnight. Investors went from cautiously optimistic to genuinely spooked in about 48 hours.
Best performers of the week 🏆
Defensive names and select healthcare plays found buyers as investors rotated away from cyclicals:
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