Market Update US Europe and Asia

Global equity markets were mixed on February 5, 2026, as software and semiconductor sectors faced pressure from AI competition while financials and cyclicals outperformed. Major M&A activity and record highs for the Dow and FTSE 100 highlighted a market 'broadening' beyond concentrated tech.

Key Takeaways

• 1.US and European equity markets were mixed, with heavy tech and software weakness contrasted by record highs in the Dow Jones and FTSE 100 as the 'broadening-out' trade continues.
• 2.Artificial Intelligence is causing significant disruption and competitive fears in the software sector, highlighted by Anthropic's new plug-ins for Claude Cowork.
• 3.Mergers and acquisitions (M&A) were a major market catalyst, including TXN's $7.5B acquisition of SLAB and Santander's $12.2B purchase of Webster Bank.

Table of Contents

• Market Barometer
• U.S. Markets Recap
• Synopsis
• Macro
• Notable Movers
• EU Market Recap
• Asian Markets
• Disclaimer

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