Closing Bell Closing Bell: High Anxiety Market 2/27/26
Feb 27, 2026
Mackenzie Sigalos, tech and markets reporter who covered Block and SpaceX, and Tony Pasquariello, Goldman Sachs head of global hedge fund coverage, discuss market nervousness. They cover big tech moves, AI-driven layoffs and CapEx trends. Conversation touches on private credit risks, valuation caution, and where capital is flowing in a tense market.
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BDCs Exposed Troubled Software Loans Raising Credit Fears
- Business development companies revealed troubled loans in software, stoking market fears about private credit and potential spillover to banks.
- Leslie Picker links BDC disclosures and dividend cuts this week to rising credit quality concerns across financials.
Block Uses AI Cuts To Boost Profit Per Employee
- Block cut ~4,000 jobs citing AI-driven efficiency while reporting strong Cash App profit growth and raised EPS guidance.
- Mackenzie Sigalos notes the cuts reduce headcount to 2020 levels and target gross profit per employee goals boosted by AI.
OpenAI's Massive Round Rewrites AI Alliances
- OpenAI raised $110 billion with Amazon investing $50 billion and NVIDIA $30 billion, signaling major shift in AI alliances and long runway for OpenAI.
- Kate Rooney reports Amazon's $15 billion upfront then $35 billion conditional tranche tied partly to potential IPO and product partnerships.