U.S. stock markets experienced significant declines on February 5, driven by ongoing tech sell-offs, weak labor market data, and sharp drops in cryptocurrencies. The S&P 500 fell approximately 1.2%, and the Nasdaq Composite declined about 1.5%, marking its worst three-day slide since April. The Dow Jones Industrial Average dropped over 1,100 points, or 1.2%, closing at 48,908.72. The decline was fueled by concerns over artificial intelligence disruption affecting software stocks, with investors reacting to new AI spending plans from Alphabet and the anticipation of Amazon's earnings report. The market also responded negatively to economic indicators showing a weakening labor market, including a rise in weekly jobless claims and the lowest job openings since 2020, raising fears of a slowdown. Cryptocurrencies were hit hard, with Bitcoin plunging below $64,000, erasing gains from its peak last year, and silver prices crashing 14%, with gold also declining. Analysts warn that the market's volatility is exacerbated by overextended speculative trading, with some expecting crypto markets to bottom out possibly by summer. Additionally, major tech companies like Microsoft and Alphabet reported earnings that raised concerns about the profitability of AI investments. Meanwhile, bond yields fell as investors sought safety, and some sectors like private credit and EV stocks experienced notable movements. Overall, the market is in a state of heightened uncertainty amid fears of economic slowdown, AI disruption, and volatile asset prices.