Snapping a two-day winning streak, the US markets ended mostly in red on Thursday as Nvidia shares tumbled even though the company reported better than expected fiscal fourth quarter results and provided upbeat guidance. Traders also remained on sidelines ahead to the release of the Labor Department’s report on producer price inflation in the month of January. Traders took note of report released by the Labor Department showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended February 21, 2026. The Labor Department said initial jobless claims rose to 212,000, an increase of 4,000 from the previous week’s revised level of 208,000.
On the sectoral front, gold stocks surged despite a decrease by the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 2.9 percent to a record closing high. Airline stocks also saw significant strength on the day, resulting in a 2.3 percent jump by the NYSE Arca Airline Index.
Nasdaq decreased 273.69 points or 1.18 percent to 22,878.38 and S&P 500 fell 37.27 points or 0.54 percent to 6,908.86, while Dow Jones Industrial Average added 17.05 points or 0.03 percent to 49,499.2.
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