FEAR & GREED | Business News Afternoon Report | Worst markets day in 3 months
Feb 6, 2026
Markets plunged with the ASX 200 down sharply across nearly all sectors. Tech names slid after massive AI spending news from a major US retailer. A proposed $300 billion mining merger collapsed over ownership splits. Political manoeuvring and central bank testimony on fiscal policy and inflation added to the day’s drama.
AI Snips
Chapters
Transcript
Episode notes
Market-Wide Tech-Led Sell-Off
- The S&P/ASX 200 fell 2% with 95% of stocks declining, marking the worst week in three months.
- Tech stocks led losses after Amazon's $200bn AI infrastructure spend and heavy after-hours sell-off on Wall Street.
AI Spending Sparks Tech Volatility
- Technology names plunged about 12% for the week with major cloud and software stocks hit hard.
- Amazon's announcement to spend US$200bn on data centers and chips drove investor rotation and heavy after-hours selling.
Rio‑Glencore Merger Talks Collapse
- Talks between Rio Tinto and Glencore over a potential merger collapsed due to disagreements on price and ownership split.
- Glencore wanted roughly a 40/60 split while Rio sought closer to 31/69, so discussions ended.