The Dow Jones Industrial Average (^DJI) was down 821.91 (-1.66%) points today, as the index retreated to 48,804.06. While Dow Futures (YM=F) was up 126.00 (+0.26%), the spot market struggled under the weight of significant losses in the technology and financial sectors. The dominant narrative was a sharp correction in enterprise tech sentiment following a major decline in IBM (IBM), coupled with renewed fears regarding consumer credit health that battered payment processors and major banks.The primary catal ...

Group 1: FedEx and IEEPA Tariffs - FedEx has filed a lawsuit against the Trump administration seeking a full refund of tariffs paid under the International Emergency Economic Powers Act (IEEPA) following a Supreme Court ruling against the administration [3] - The lawsuit does not specify the amount due and names the Customs and Border Protection agency and its commissioner as defendants [3] - Other companies, including Costco, have also filed similar lawsuits, with economists projecting that reversing the IEEPA tariffs could generate up to $175 billion in refunds [4] Group 2: Hims & Hers Health - Hims & Hers Health disclosed an SEC investigation regarding its public statements and disclosures about compounded semaglutide, stating it is cooperating but cannot predict the financial impact [5][6] - The company reported Q4 GAAP EPS of $0.08, beating estimates by $0.03, with revenue rising 28.4% year-over-year to $617.8 million, in line with expectations [6] - Subscriber growth reached over 2.5 million, a 13% increase year-over-year, but the company guided for Q1 2026 revenue between $600 million and $625 million, below the consensus estimate of $652.6 million [6] Group 3: IBM and AI Claims - IBM's shares experienced their worst decline in over 25 years after AI startup Anthropic claimed its tool could modernize COBOL, a programming language used on IBM systems [7][8] - The stock fell over 13%, marking its largest single-day percentage loss since October 2000, and has dropped 27% in February, on track for its biggest monthly decline since at least 1968 [8]

U.S. rate futures have priced in a 95.9% probability of no rate change and a 4.1% chance of a 25 basis point rate cut at the March FOMC meeting.Fed Governor Christopher Waller said on Monday that his decision on whether to back an interest rate cut at the central bank’s March meeting will depend on upcoming labor-market data. “If these data support the idea of an improvement in the labor market in January that continued in February, along with additional progress toward 2% inflation, that could result in my ...

Core Viewpoint - International Business Machines (IBM) is experiencing significant stock pressure, with February potentially being its worst month in over 50 years, primarily due to competition from AI advancements by Anthropic [1][2]. Group 1: Stock Performance - IBM's stock dropped 13.15% following Anthropic's announcement, marking the company's worst trading day in the 21st century with a closing price of $224.50 [1][2]. - The stock's decline is attributed to concerns over the company's reliance on COBOL, a programming language that is becoming increasingly obsolete due to a shortage of developers [3][4]. Group 2: COBOL and Developer Bottleneck - COBOL is critical for IBM's operations, facilitating large-scale transactions across various sectors, yet the number of developers proficient in it is diminishing as new programmers favor languages like Python and Java [4][5]. - Reports indicate that hundreds of billions of lines of COBOL code are in use daily, but the institutional knowledge is fading as the original developers retire [5][7]. Group 3: AI's Role in Modernization - Anthropic claims its AI technology can modernize COBOL infrastructure, potentially allowing teams to update their codebases in quarters instead of years, which poses a threat to IBM's traditional business model [8][9]. - Despite the potential benefits of AI in modernization, IBM's long-term business outlook remains under pressure due to these technological advancements [8].

Foreign trade partners of the U.S. are losing their patience with the White House. Countries that thought they had low-level tariff deals of 10% or so are now potentially looking at 15%. And countries that fought the White House and got higher tariffs may now see only a 10% tax level. “The perversity of what happened at the weekend was that those who got good deals, the allies, have been most disadvantaged,” Andy Haldane, the former central bank economist and current president of the British Chambers of Com ...

In today’s CEO Daily: Diane Brady on what keeps a “Ghost GDP” scenario from becoming reality. The big leadership story: There may be a Ghost in the future economy, but for now there’s ‘betrayal,’ says KPMG’s top economist. The markets: European markets drop as Trump’s tariffs take effect at 10%. Plus: All the news and watercooler chat from Fortune. Good morning. What’s the prognosis for the economy if AI turns out to be fantastic for profits and disastrous for demand? That’s the scenario explored in ...

⑦【联邦快递起诉美国政府，要求全额退款关税费用】当地时间2月23日，据媒体报道，联邦快递正在 起诉美国政府，要求全额退还该公司已缴纳的所有关税。联邦快递的律师在周一提交给纽约国际贸易法 院的诉状中表示："原告要求被告全额退还原告已向美国缴纳的所有IEEPA关税"。 ⑧【苹果公司宣布计划今年在美国生产部分新款Mac电脑】当地时间2月23日，苹果公司首席运营官萨 比赫·汗在接受媒体采访时表示，苹果今年部分Mac Mini将在美国本土生产。新的制造工作将于今年晚 些时候在休斯顿北部的富士康工厂启动。截至发稿，苹果上涨0.23%。 ②【亚马逊将投资120亿美元在路易斯安那州建设数据中心】当地时间2月23日，亚马逊宣布，将投资 120亿美元在路易斯安那州西北部建设最先进的数据中心园区，以支持云计算技术的发展。该项目是一 项横跨多地点的协调投资，旨在促进区域经济发展。这项投资计划预计将在亚马逊数据中心创造540个 全职工作岗位，并为当地社区带来1710个全职等效岗位。 ④【Anthropic今晚举行Claude产品发布会】北京时间今晚十点半，人工智能初创公司Anthropic将举行在 线直播活动，展示其AI助手Claud ...

With Tuesday’s 6% decline, the Nifty IT index has plunged over 21% in February alone, marking its worst monthly fall since the 2008 global financial crisis, according to an ET report. The trigger this time is not only macroeconomic weakness but also concerns about potential disruption to traditional IT services.Anxiety intensified after AI startup Anthropic said its Claude tool can help streamline COBOL code, raising fears over long-standing revenue streams for technology companies. The announcement sent sh ...

Software stocks have faced notable market headwinds amid growing investor fears regarding artificial intelligence disruption. The broader equity pullback is also raising concerns for Bitcoin (BTC), which has closely tracked software stocks. Why Are Software Stocks Down? According to the Global Markets Investor, the iShares Expanded Tech-Software Sector ETF (IGV) has fallen 15% in February alone, putting it on pace for its worst monthly performance since 2008. The ETF is now testing its April 2025 lows an ...

Concerns escalated after AI startup Anthropic said its Claude tool can help streamline COBOL code, raising fears of disruption to long-standing revenue streams for technology companies. The announcement sent ripples through global tech stocks. To put things into perspective, shares of IBM plunged 13% overnight, marking the company’s worst single-day selloff in about 25 years.In today’s session, IT stocks tumbled up to 8%. Tech Mahindra, Following the historic correction, the Nifty IT index now trades at an ...