A number of stocks fell in the afternoon session after investor fears over artificial intelligence disrupting the software industry sparked a broad sell-off. The anxiety stemmed from the rapid adoption of new 'agentic AI' tools, which some investors believed could dismantle traditional Software-as-a-Service (SaaS) business models. This 'AI Panic' led to indiscriminate selling across the sector. The market move reflected growing concerns about the downside of the AI boom for established software companies.
A number of stocks fell in the afternoon session after investor fears over artificial intelligence disrupting the software industry sparked a broad sell-off. The anxiety stemmed from the rapid adoption of new 'agentic AI' tools, which some investors believed could dismantle traditional Software-as-a-Service (SaaS) business models. This 'AI Panic' led to indiscriminate selling across the sector. The market move reflected growing concerns about the downside of the AI boom for established software companies.
Shares of AI lending platform Upstart (NASDAQ:UPST) jumped 3.7% in the afternoon session after Compass Point upgraded the stock to Neutral from Sell and raised its price target.
Shares of cruise company Norwegian Cruise Line (NYSE:NCLH)
jumped 12.3% in the afternoon session after activist investor Elliott Management built a stake of more than 10% in the cruise operator and planned to push for changes at the company.
Shares of document technology company Xerox (NASDAQ:XRX) jumped 3.7% in the afternoon session after the company announced it had raised $450 million for a new joint venture with global alternative asset management firm TPG and revealed a new global sales structure.
The U.S. labor and consumer markets received a pivotal update this week as the Bureau of Labor Statistics released the January 2026 Consumer Price Index (CPI) report. Headline inflation cooled to a 2.4% annual rate, marking the lowest level of price growth since mid-2021 and coming in slightly
Coca-Cola’s fourth quarter was marked by a modest year-on-year increase in sales, but revenue came in below Wall Street expectations, prompting a negative market reaction. Management attributed the results to mixed global consumer demand and challenging external environments, with CEO-elect Henrique Braun noting that "volume improved each month during the fourth quarter" despite flat growth for the year. The quarter also saw continued investments in product innovation and targeted marketing, particularly in North America and emerging markets.
Financial technology company PROG Holdings (NYSE:PRG) will be announcing earnings results this Wednesday before market hours. Here’s what you need to know.
Health and wellness products company Herbalife (NYSE:HLF)
will be announcing earnings results this Wednesday afternoon. Here’s what investors should know.
As of February 16, 2026, the narrative on Wall Street has undergone a startling transformation. The "growth-at-any-price" mentality that defined the early 2020s has been replaced by a resolute flight to quality, as investors abandon the high-octane technology sector in favor of the unglamorous but reliable world of household goods.
