Stock Market Today: Dow Sinks As EU Makes Trump Tariff Move; IBM Dives On This AI Threat (Live Coverage)

The Dow Jones Industrial Average and other major stock indexes finished sharply lower Monday after President Donald Trump said he’s implementing a 15% global tariff rate after the Supreme Court ruled against his prior levies.

Meanwhile, cybersecurity and software stocks, including IBM (IBM), were whacked on the stock market today by artificial intelligence fears.

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The Dow closed down 822 points, or 1.7%. American Express (AXP) was hit hard, losing 7.2% while Visa (V) dropped 4.5%. But Walmart (WMT), Procter & Gamble (PG) and McDonald’s (MCD) were among the top gainers, highlighting price gains in defensive sectors.

The tech-heavy Nasdaq composite fell 1.1%, ending near session lows. AppLovin (APP) and Atlassian (TEAM) were among the worst performers as they slid 9.1% and 9.4%, respectively. PayPal (PYPL) fared well, however, rallying 5.8% on buyout buzz.

Stock Market Today: Bears Maul Small Caps

The benchmark S&P 500 slumped 1%. Zebra Technologies (ZBRA) was among the worst laggards as it fell nearly 10%. Albemarle (ALB) and Eli Lilly (LLY) were standouts, rising 5.4% and 4.9%, respectively.

The S&P 500’s 11 sectors ended mixed. The defensive consumer staples and health care areas posted the best performances while consumer discretionary and financials lost the most.

Small caps were hit, driving the Russell 2000 down 1.6%. The index tested buyers at the 50-day moving average, a key level. Growth stocks, meanwhile, pushed higher, with the Innovator IBD 50 (FFTY) exchange traded fund rising 1.3%.

Volume was higher vs. Friday on both the New York Stock Exchange and the Nasdaq, according to preliminary data. This is a negative on a down day.

The 10-year Treasury yield fell five basis points to 4.03% as investors sought safety in Treasury bonds. Oil prices reversed slightly lower, but were essentially flat, trading down to around $66.45 per barrel. Also, bitcoin tumbled 4.1% to around $64,600.

IBM Stock Battered Amid This Anthropic Move

Cybersecurity stocks and others were getting walloped on the stock market today due to a move by AI disrupter Anthropic. IBM (IBM) dived after Anthropic announced COBOL capabilities for its Claude Code product.

COBOL, or Common Business-Oriented Language, is a high-level programming language created in 1959 for business data processing, finance, and administrative systems. It is still widely used in mainframes.

In a blog post, Anthropic noted that “legacy code modernization stalled for years because understanding legacy code cost more than rewriting it. AI flips that equation.”

The firm said that while COBOL handles 95% of ATM transactions in the U.S. and powers important finance, airlines, and government systems, the number of people who understand it declines every year.

“Tools like Claude Code can automate the exploration and analysis phases that consume most of the effort in COBOL modernization,” Anthropic said.

This is a hurdle for IBM as many companies are locked into its mainframes due to the critical nature of legacy systems operating on them. Also, IBM makes a lot of revenue from its consulting division, which charges high rates for mainframe modernization. If Claude can eat into this business, it will affect IBM’s bottom line.

IBM stock plunged more than 13% on the stock market today. It now sits more than 20% below both its 50-day and 200-day lines, according to MarketSurge analysis.

While it has lost around a quarter of its value since the start of the year, it is also around 30% below its recent high of 319.90, which it reached Jan. 29.

Its IBD Composite Rating has fallen to 57 out of 99 despite its EPS Rating coming in at 88.

12:34 p.m. ET

Stock Market Today: Cybersecurity Stocks Sink Amid AI Fears

Software stocks have been hammered amid worries over the impact of artificial intelligence, with the SPDR S&P Software & Services ETF (XSW) down more than 5% on Monday. It is down more than 24% for the year.

And Anthropic’s plan to move into cybersecurity with the Claude Code Security tool has pressured cybersecurity plays for the second session in a row.

CrowdStrike (CRWD) lost more ground on its 50-day and 200-day lines after it fell more than 11%, MarketSurge analysis shows. The move came in massive volume. It recently suffered a so-called “death cross” on its chart, where a 50-day moving average crosses below its 200-day.

Zscaler (ZS) was having a similarly tough session, diving nearly 11%. The stock’s IBD Composite Rating has fallen to just 43 out of 99, and shares are nearly 58% below their recent high of 336.99.

Fortinet (FTNT) undercut its 50-day line, which is a sell signal, though it had previously met resistance at the 200-day moving average. It ranks among the bottom 22% of equities in terms of price performance over the past 12 months despite having an Earnings Per Share Rating of 93 out of 99.

Okta (OKTA) skidded more than 6%, losing ground on its 50-day moving average in the process. Datadog (DDOG) was also walloped, plunging around 12%.

Former Leaderboard stock Rubrik (RBRK) was down more than 7%. Volume, while above average, was less pronounced than with the other names. Rubrik’s IBD Composite Rating has plunged to just 16, however, and its share price has roughly halved from its recent high of 92.77.

Anthropic’s announcement came after industry big beast, OpenAI, also said it may move into cybersecurity to protect coding tools and AI app development.

Anthropic’s announcement “added incremental weight to the existing AI disruption narrative already overhanging the sector,” William Blair analyst Jonathan Ho said in a report.

12:34 p.m. ET

These Gold Stocks Shine As Precious Metal Pops

Gold stocks were given a boost from a rally in the precious metal’s price while the stock market fell.

Gold futures were up nearly 3% to around $5,227 an ounce. Bullion benefited from rising geopolitical tensions and uncertainty over trade that made the safe haven asset even more alluring.

The SPDR Gold Shares (GLD) exchange traded fund rose more than 2%. It pulled further clear of its 21-day exponential moving average and is close to moving back into the 20% profit zone from a 403.30 entry.

The ETF has crushed the S&P 500 so far in 2026. The fund has surged about 21% while the benchmark index is roughly flat for the year.

Former Leaderboard stock Kinross Gold (KGC) popped more than 4%. It has rebounded well after coming close to touching its 50-day line, and a new base could now be forming.

Among other noteworthy gold stocks, Agnico Eagle Mines (AEM) rose nearly 4% and is making new highs. It is now more than 25% above a cup-base entry of 187.50.

Triple Flag Precious Metals (TFPM) rose more than 1%, pulling further away from its major and short-term moving averages in the process. Gold Fields (GFI) rallied nearly 4% and is now nearly 20% above a 47.18 buy point.

Kinross and Gold Fields are currently members of the IBD Sector Leaders list.

Gold was one of the best-performing asset classes of 2025, rising more than 60%. It has already shrugged off skepticism to build solidly on those gains during 2026.

12:34 p.m. ET

EU Postpones U.S. Trade Deal Votes

The uncertainty surrounding tariffs following Friday’s Supreme Court ruling on Trump’s reciprocal tariffs has already had an effect. The EU on Monday put off votes on a mooted trade deal.

“The ruling by the Supreme Court of the United States of 20 February 2026 on the use of the International Emergency Economic Powers Act (IEEPA) is clear and unequivocal,” Bernd Lange, chair of the European Parliament’s International Trade Committee, said in a statement. “Its implications cannot be ignored, and business as usual is not an option.”

He noted that a “key instrument used” by the U.S. to negotiate and implement the so-called Turnberry Deal “is no longer available.” Lange said scheduled International Trade Committee votes on the deal due to take place Tuesday have been postponed and that the situation will be reassessed next week.

The pact established a 15% U.S. tariff cap on most EU goods, including cars and semiconductors. It also eliminated tariffs on certain U.S. industrial goods while the EU pledged to purchase $750 billion in American energy exports while also investing $600 billion in the U.S. by 2028.

Some areas, including aircraft components, critical raw materials and semiconductors, would have seen tariffs eliminated completely.

Trump invoked his authority under Section 122 of the Tariff Act of 1974 to establish his latest levy. Since the tariff is a 10%-15% tax applied on top of existing rates, if implemented it would cause the rate on many EU goods to go above the agreed 15% cap. The new tariff rate is set to be effective on Tuesday, the White House said.

10:21 a.m. ET

Energy Stock Clears Entry

With IBD continuing to recommend 40%-60% market exposure, it still remains important to stay on top of any breakouts.

Energy transportation play Golar LNG (GLNG) made a bullish move by testing an entry in the early going Monday.

The stock tested a saucer base ideal buy point 45.98, according to MarketSurge analysis. This is a shallow pattern that can form in as little as seven weeks, but often consolidates for far longer.

Golar’s relative strength line has been marching higher, though it has yet to hit fresh heights. The momentum here is a positive indicator amid a breakout attempt.

The stock moved above its 50-day moving line in January and has powered above its short-term moving averages as well.

Big Money has loaded up on the stock lately, which is reflected in its Accumulation/Distribution Rating of A-.

In total, 54% of shares are held by funds, MarketSurge data shows.

Golar LNG is a midstream liquefied natural gas firm that focuses on the transportation, regasification and liquefaction of the fuel source.

10:21 a.m. ET

Stock Market Today: Oil Equipment Plays, Biotechs Shine

The relative performance of exchange traded funds in the S&P Select Industry indexes offered an early insight into the action on the stock market today.

The SPDR S&P Biotech ETF (XBI) fared best as it rose more than 2%. SPDR S&P Oil & Gas Equipment & Services ETF (XES) came off opening highs, but was also strong as it gained nearly 2%, according to MarketSurge data.

In contrast, the SPDR S&P Software & Services ETF (XSW) was getting hit the hardest, falling nearly 4%. It is now down around 23% for the year amid worries over the impact of artificial intelligence. The SPDR S&P Retail ETF (XRT) and the SPDR S&P Transportation ETF (XTN) were also struggling in the early going.

See Which Stocks Top Money Managers Are Buying Right Now

9:54 a.m. ET

Nasdaq-100 Winners, Losers: PDD, DoorDash, AppLovin

Within the Nasdaq-100 index, PDD Holdings (PDD) and T-Mobile US (TMUS) rallied roughly 2% each, making them some of the best performers just after the market open.

Meanwhile, DoorDash (DASH) and AppLovin (APP) tumbled 6.1% and 4.7%, respectively, in morning trade.

8:46 a.m. ET

Dow Jones Movers: Merck, Amazon, Apple

Inside the Dow Jones Industrial Average, Merck (MRK) and Johnson & Johnson (JNJ) traded up 0.8% and 0.3%, respectively, in premarket trading.

On the downside, Amazon (AMZN) and Apple (AAPL) both declined roughly 1% in early morning trading.

8:17 a.m. ET

Stock Market Today: Trump Tariff News

On Friday, the Supreme Court struck down tariffs imposed by President Donald Trump relying on authority drawn from the International Emergency Economic Powers Act. Trump quickly announced a new 10% global tariff. One day later, Trump posted on Truth Social that he would make the global rate the highest-possible: 15%.

The new global tariff, which has a lot of exemptions, will go into effect Tuesday. The Feb. 24 start date was announced by the White House.

Timely Tips And Tools On How To Invest In Stocks In This Market

Novo Plunges On Drug Trial Results

Shares of weight-loss drugmaker Novo Nordisk plunged nearly 14% premarket Monday after the company said its next-generation weight loss drug, CagriSema, failed to meet its primary endpoint of demonstrating non-inferiority in weight loss when compared to Eli Lilly’s (LLY) rival drug tirzepatide after 84 weeks.

Novo stock is set to open at its lowest level since June 2021.

Nvidia Leads Big Earnings Reports

Nvidia (NVDA) stock edged lower premarket Monday, with the company’s earnings set to steal the spotlight this week. The artificial intelligence giant is set to report Wednesday after the market close.

Wall Street expects Nvidia earnings to jump 72% to $1.53 per share. Revenue is anticipated to climb 68% year over year, to $66 billion.

Other big earnings reports include Home Depot (HD), Snowflake (SNOW) and Zscaler (ZS).

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Stock Market Today: Inflation Data Due Later

The week ahead is a relatively light one for economic data; however, uncertainty over a potential conflict with Iran continues to cast a shadow.

Friday will see the release of the latest producer price index reading while The Conference Board’s consumer confidence index drops Tuesday.

**Breakout Watch: Strategic Shift Transforms This IBD 50 AI Play

**

Please follow Michael Larkin on X at @IBD_MLarkin for more analysis of growth stocks.

_Be sure to follow Scott Lehtonen on X _at @IBD_SLehtonen for more on growth stocks, the Dow Jone__s Industrial Average and the stock market today.

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