What caused the decline in Wall Street futures?

Wall Street futures declined due to a historic commodities meltdown and doubts about the sustainability of the AI trade.

How did commodity prices perform?

Silver prices plunged over 6% below $80 per ounce, and Bitcoin corrected significantly, trading near $77,000 after a 35% drop from its peak.

What is the status of Nvidia's investment in OpenAI?

Nvidia's plan to invest up to $100 billion into OpenAI has reportedly stalled, with executives expressing doubts about the deal's completion.

Home / Business and Economy / Wall Street Plunges Amid Commodities Crash

Wall Street Plunges Amid Commodities Crash

2 Feb

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Summary

Dow futures dropped 150 points, S&P 500 futures down 35.
Silver prices plunged over 6% below $80 an ounce.
Nvidia's $100 billion OpenAI investment plan reportedly stalled.

Wall Street Plunges Amid Commodities Crash

Wall Street futures experienced a sharp downturn on Sunday evening local time, reacting to a severe commodities crisis from the previous week and emerging concerns about the sustainability of the AI sector. Dow futures saw a significant drop of 150 points, while S&P 500 and Nasdaq futures also registered substantial losses.

The market's focus remained intensely on commodities. Spot silver prices continued their decline, falling another 6% to trade below $80 per ounce, a steep drop from its previous peak of over $120. Bitcoin also experienced a significant correction, trading near $77,000 after a 35% decrease from its high.

A stronger US Dollar was identified as a key catalyst for the commodity sell-off. The US Dollar index rallied significantly, surpassing the 97 mark. This surge followed President Donald Trump's selection of Kevin Warsh as the next Fed Chair.