S&P 500 futures exhibited a downward trend on Tuesday, continuing the pattern established by two consecutive weeks of negative performance for the benchmark. Futures associated with the broad index experienced a decline of 0.42%, whereas Nasdaq 100 futures fell by 0.75%. Futures for the Dow Jones Industrial Average declined by 133 points, representing a decrease of 0.27%. The New York Stock Exchange remained closed on Monday in recognition of President’s Day.

Market has experienced yet another week of declines for the S&P 500, as concerns regarding the disruptive impact of artificial intelligence on sectors including real estate, trucking, and financial services continue to mount. Last week, both the S&P 500 and the blue-chip Dow experienced declines exceeding 1%, whereas the technology-focused Nasdaq Composite saw a drop of over 2%.

“The AI disruption vigilantes were at it again … with new targets,” remarked Daniel Skelly. “With the S&P 500 flattish for the year, the bull market has certainly paused, and given way to a bull market in ‘disruption hysteria.’” The Dow and S&P 500 recorded their fourth consecutive week of losses out of the last five. The Nasdaq has experienced its fifth consecutive week of declines, marking its longest losing streak since 2022. The latest consumer price index reading released Friday seemed to be overshadowed by those concerns. The headline CPI data was reported to be weaker than the forecasts made by economists surveyed by Dow Jones for January.

This week, investors will gain further insight into the trajectory of inflation, as the personal consumption expenditure report is scheduled for release on Friday. Prior to that, they will scrutinize the minutes from the Federal Reserve’s meeting scheduled for Wednesday. Palo Alto Networks is set to report its earnings following the market close on Tuesday. DoorDash, Walmart, and Wayfair are scheduled to release their results later in the week.