CNBC Business News Update Market Midday: Stocks Lower, Dow Hit New All Time High Before Falling, Walmart Hits $1 Trillion Valuation 2/3/26
Feb 3, 2026
Andrew Ross Sorkin, financial journalist and CNBC contributor, and Paul Hickey, market commentator on metals, join the update. They cover the Dow hitting a morning record then pulling back, big tech movers like NVIDIA, and volatile moves in gold and silver. Discussion also touches on Musk’s plan to combine space-tech assets and SpaceX’s satellite/data center ambitions.
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Market Reversal After Morning Highs
- The Dow hit a record then pulled back, showing intraday volatility in markets today.
- Major indexes (S&P down, Nasdaq falling) dropped significantly by midday.
Big Tech Drives Afternoon Slump
- IBM shares led the decline and were down more than 7%, pressuring the Dow.
- NVIDIA and other tech names also weighed on the Nasdaq with notable losses.
Walmart Milestone and Metal Volatility
- Walmart reached a $1 trillion valuation as shares jumped about 2.5% to roughly $127.
- Precious metals moved sharply today with gold up 6% and silver up 14% after a recent plunge.