24th February 2026 – (New York) U.S. stocks fell sharply as concerns over artificial intelligence disruption and renewed global tariff threats unsettled investors, with major indices posting significant losses. U.S. equities retreated sharply on Monday as mounting anxiety over artificial intelligence-driven disruption and fresh trade tensions weighed heavily on investor confidence.
The Dow Jones Industrial Average dropped 821.91 points, or 1.66 per cent, to close at 48,804.06. The S&P 500 declined 71.76 points, or 1.04 per cent, to 6,837.75, while the Nasdaq Composite fell 258.8 points, or 1.13 per cent, ending the session at 22,627.27.
Performance across the S&P 500’s 11 main sectors was uneven. Defensive stocks outperformed, with consumer staples rising 1.46 per cent and healthcare advancing 1.15 per cent. In contrast, financials slid 3.33 per cent and consumer discretionary stocks lost 2.15 per cent, leading the market lower.
Investor unease intensified following an announcement from artificial intelligence firm Anthropic, which unveiled a new tool capable of automating complex consulting tasks. The development fuelled fears that AI could disrupt professional services companies, prompting a sell-off in the sector.
Shares in IBM plunged 13.15 per cent, while Accenture and Cognizant also recorded notable declines as traders reassessed the potential impact of automation on traditional advisory businesses.
Market sentiment was further dented by renewed uncertainty over U.S. trade policy. Optimism that followed Friday’s Supreme Court ruling against earlier tariff measures proved short-lived after President Donald Trump announced plans for a fresh round of “global tariffs”.
The European Union swiftly rejected the move, insisting that prior agreements should be honoured and calling on Washington to provide greater clarity.
Analysts at ING Bank suggested the latest tariff proposals could face additional legal scrutiny and may represent a strategic effort to create space for alternative trade measures. They noted that the Supreme Court’s decision had underscored constitutional limits on presidential authority, signalling that institutional checks and balances remain in place. However, they added that it was unlikely President Trump would interpret the ruling as an opportunity to retreat from his broader tariff agenda.
In corporate trading, U.S.-listed shares of Danish pharmaceutical group Novo Nordisk tumbled 16.43 per cent to their lowest level in nearly five years after trial data for its obesity treatment fell short of results reported by rival Eli Lilly. Eli Lilly shares climbed 4.86 per cent in response.
Elsewhere, Netflix declined 3.37 per cent amid political scrutiny over the composition of its board and as the streaming giant continues negotiations to acquire selected assets from Warner Bros. Discovery.
