Europe Weighed Down by Consumer Weakness as U.S. Tech Slips and Asia Holds Steady
Markets maintained calm as Lunar New Year holidays constrained trading activity. The STOXX 600 slipped 0.13% following L'Oréal's nearly 5% decline, while the Nasdaq fell 0.22% due to weakness in Nvidia and Alphabet. Hong Kong's Hang Seng rose 0.5% during a half-day session. Gold dropped 1.05% and silver fell 3% as traders secured gains, with the dollar remaining relatively flat.
Today's Snapshot
- Nasdaq Composite: 22,546.67 (-50.48 pts, -0.22%)
- STOXX 600: 617.70 (-0.82 pts, -0.13%)
- Hang Seng: 26,705.94 (+132.87 pts, +0.5%)
- Gold: $4,989.34/oz (-1.05%)
- Silver: $75.9/oz (~-2%)
Global Markets
Commodities
Gold: $4,989.34/oz (-1.05%)
Gold decreased 1.05% to $4,989.34/oz as trading volumes remained subdued and traders locked in profits following last week's significant gains.
Silver: $75.05/oz (-3.0%)
Silver declined 3.0% to $75.05/oz, experiencing steeper losses than gold as recent buyer enthusiasm for the metal moderated.
Brent: $67.77/bbl (flat)
Brent crude remained near $67.77/bbl as traders awaited clarity on whether OPEC would increase production beginning in April. Heightened supply would typically pressure prices downward, but no final decision has been announced yet, keeping prices stable.
Foreign Exchange
Dollar Index (DXY): 97.99 (slightly weaker)
The dollar edged lower in subdued trading conditions, providing modest support to commodity valuations throughout the session.
USD/JPY: 153.07 (slightly stronger)
The dollar moved marginally higher against the yen, trading above 153 after the yen had strengthened during the previous week.
Stock Market — What Happened Today
U.S. Equities
Nasdaq: 22,546.67 (-50.48 pts, -0.22%)
The Nasdaq Composite closed at 22,546.67, down 0.22%, primarily driven by declines in major technology stocks. NVIDIA (-1.4%) and Alphabet fell approximately 1%, with these heavyweights pulling the broader index lower.
European Markets
STOXX 600: 617.70 (-0.82 pts, -0.13%)
The STOXX 600 weakened slightly as consumer stock declines weighed on performance. L'Oréal fell around 5% after reporting 6% sales growth, falling short of market expectations of 6.5–7%. Most significantly, the company's revenue expansion in North Asia, particularly China, remained notably weak at approximately 0.6% versus anticipated growth of 5–6% in that critical region. This shortfall substantially disappointed investors and drove the stock decline.
Hong Kong
Hang Seng Index: 26,705.94 (+132.87 pts, +0.5%)
The index advanced into the Lunar New Year break as investors avoided aggressive selling in thin trading conditions.
Volatility & Positioning
The VIX closed at 20.82, reflecting continued market caution despite muted trading activity.
What Traders Are Watching
- Whether U.S. equities maintain stability following the extended weekend after a volatile, technology-dominated week
- Gold and silver performance following the post-inflation spike—whether profit-taking has concluded or if buying momentum returns
- USD/JPY near the low-150s level following last week's sharp yen strength—confirmation of sustained follow-through movement
“Time in the market beats timing the market.”
Yesterday's Market News – 13 February 2026
U.S. stocks experienced sharp declines, with the S&P 500 closing at 6,832.76 (-1.57%) and the Nasdaq at 22,597.15 (-2.03%) as technology weakness intensified following Cisco's disappointing guidance and broader mega-cap selloffs. In Asia, the Hang Seng dropped to 26,476.20 (-2.05%) as Alibaba and Tencent declines mirrored the U.S. technology-driven downturn.
Read full recap →Sources
- Reuters — Shares subdued in Asia by holidays; dollar and metals move in thin trade
- Reuters — S&P 500 ends slightly higher; Nasdaq dips as tech drags
- Reuters — European shares edge lower as AI concerns and earnings mix
- Reuters — Gold drops over 1% as thin trading and profit-taking weigh
- AP — Asian shares rise ahead of Lunar New Year; Nikkei and Hang Seng finish higher
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