Market Snapshot (Data as of Feb 2, 2026 | 4:15 PM ET)
US equity markets witnessed extraordinary stock-level divergence, with speculative microcaps delivering triple-digit gains, while several counters collapsed by 50–90%, highlighting elevated risk appetite and sharp positioning ahead of key macro and policy cues.
Biggest Gainers (Day % Change)
| Stock | % Change |
|---|---|
| PLYX (Polaryx Therapeutics) | +296.38% |
| DKI (DarkIris Inc.) | +192.49% |
| FUSEW (Fusemachines Warrant) | +113.02% |
| SBXD (SilverBox Corp IV) | +78.58% |
| FUSE (Fusemachines) | +70.89% |
Expert view:
Such outsized moves are typically driven by low-float dynamics, speculative momentum, corporate actions, or event-led trading, rather than broad-based fundamentals.
Steepest Decliners
| Stock | % Change |
|---|---|
| ELPW | -90.39% |
| PHOE | -86.78% |
| INLF | -70.06% |
| AREB | -64.84% |
| FATBB | -50.61% |
Expert view:
Sharp collapses of this magnitude often reflect delistings, failed restructurings, capital dilution, or regulatory concerns, underscoring heightened downside risk in thinly traded names.
Most Active Stocks: Where Money Flowed
By Share Volume
SXTC: 676M shares traded
SOXS: 575M shares
ZSL: 446M shares
SLV: 214M shares
DKI: 210M shares
By Dollar Volume
SPY: $695.4 (+0.50%)
QQQ: $626.14 (+0.69%)
AAPL: $269.96 (+4.04%)
NVDA: $185.61 (−2.89%)
TSLA: $421.90 (−1.98%)
Expert takeaway:
While headline indices remained relatively stable, institutional flows stayed concentrated in ETFs and megacaps, even as retail-led speculation dominated microcaps—a classic late-cycle volatility signal.
Bottom Line
Markets are showing two-speed behaviour:
Stability at the index level
Extreme volatility beneath the surface
Investors should remain cautious, as such dispersion often precedes sharp mean reversion or regulatory intervention.
