Closing Bell Closing Bell Overtime: Tariffs, Rates & Risk Appetite: Markets Brace for NVIDIA 2/23/26
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Feb 23, 2026 Barry Sternlicht, Chairman and CEO of Starwood Capital, a leader in real estate investing, offers quick takes on commercial real estate resilience and travel demand. He discusses tariff uncertainty and its hit to business planning. Short, punchy conversations also cover credit conditions, regional migration, and how AI might reshape property and data center demand.
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Anthropic Demos Triggered Sharp Software Selloffs
- Christina Parchinevulos highlighted AI-driven pressure on cybersecurity and legacy-software businesses after Anthropic demos rattled names like Zscaler and IBM.
- IBM plunged after Claude demonstrated legacy code modernization, showing narrow AI news can cause outsized stock moves.
Bonds Bought As A Hedge Amid Equity Weakness
- Rick Santelli noted Treasuries acted as a hedge as equities fell, with longer maturities outperforming and the curve flattening under 60 bps.
- He pointed out durable goods showed strength, yet markets still rushed to bonds as risk-off protection.
Tariff Spike Is Policy Uncertainty Not Permanent Shock
- David Kelly called this episode mainly policy uncertainty that markets hate, centered on the Supreme Court ruling and rapid tariff moves.
- He expects many exemptions and that the current tariff level likely marks the high watermark before easing later in the year.