U.S. stocks limped into the long weekend with a mixed close on Friday, February 13, 2026, wrapping up a volatile, AI‑driven risk‑off week that left all three major indices firmly in the red.
Index recap for the week
- The S&P 500 slipped about 1.4% for the week as a late Friday stabilization failed to erase losses from a midweek tech rout tied to artificial intelligence disruption fears.
- The Dow Jones Industrial Average declined roughly 1.2% over the same stretch, holding up better than growth benchmarks but still succumbing to broad de‑risking.
- The Nasdaq Composite dropped about 2.1%, underperforming as investors rotated out of AI‑linked leaders and high‑multiple tech after one of the sharpest single‑day sell‑offs of 2026.
On Friday, the Dow added about 0.1%, the S&P 500 was roughly flat to modestly positive by .05%, and the Nasdaq slipped around 0.2%, highlighting a fragile attempt to find a floor after Thursday’s steep decline. The small caps pin the Russel 2000 popped 1.18% on Friday, but still fell .89% over the last 5-days.
Macro drivers and AI jitters
- A cooler‑than‑expected January Consumer Price Index, with headline prices up 0.2% month‑on‑month and 2.4% year‑on‑year, revived expectations that the Federal Reserve could begin easing as early as June, with futures leaning toward a quarter‑point cut and at least two reductions by year‑end.
- Despite the friendlier inflation data, markets were dominated by worries that AI could upend business models across software, real estate, logistics, and transportation, extending the initial derating of mega‑cap “Magnificent” tech names into a broader cross‑sector scare.
- Volatility jumped as measured by the VIX, which pushed above 20 during the worst of the selloff, underscoring the degree of positioning unwind after months of enthusiasm around AI beneficiaries.
Investors now head into a shortened week—with markets closed Monday for Presidents’ Day—monitoring whether AI disruption fears remain a temporary shakeout or evolve into a more durable risk‑off regime.
Sector and single‑stock highlights
- Tech, financials, and communication services led declines, with many large‑cap AI and software names posting outsized drops as traders questioned whether profit growth can keep pace with capital being poured into AI infrastructure.
- Not all AI‑linked stories were negative: Applied Materials rallied after guiding to strong demand from AI‑driven capacity buildouts, while Pinterest sank as investors fretted about AI’s impact on its advertising and discovery economics.
- Outside pure tech, Rivian (RIVN) surged more than 25% on upbeat earnings and an accelerated timeline for its R2 midsize EV, while Moderna (MRNA) gained around 10% on a revenue beat supported by its COVID vaccine franchise.
- In digital assets, Bitcoin rebounded roughly 5% on Friday to approach the 69,000 level after briefly sliding toward 65,000 during Thursday’s equity selloff, aided by softer inflation and renewed optimism around pending crypto legislation in Congress.
Nvidia, a key AI bellwether, slipped more than 1% on Friday and has struggled to advance since setting an all‑time high last October, with investors cautious ahead of its February 25 earnings report.
VP Watchlist Updates
Eupraxia Pharmaceuticals (NASDAQ: EPRX)
- EPRX has been trading in the high single digits, with recent historical data showing shares changing hands around the mid‑$8 area on February 13, 2026 amid solid volume, reflecting growing interest following earlier clinical and financing milestones.
- The company remains a development‑stage story centered on EP‑104GI for eosinophilic esophagitis, supported by earlier positive cohort data, ongoing Phase 2b work, and an extended cash runway following a sizeable public offering that management has indicated should fund operations well into 2028.
Modular Medical (NASDAQ: MODD)
- MODD has been trading as a diabetes‑tech name, with shares reacting to execution milestones around its Pivot tubeless patch pump platform.
- Earlier this month, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.
GeoVax Labs, Inc. (NASDAQ: GOVX)
- GOVX continues to behave like a high‑beta small‑cap vaccine and oncology platform name, sensitive to financing and pipeline headlines.
- On February 13, 2026, GeoVax announced a 1 million dollar registered direct offering priced at‑the‑market under Nasdaq rules, providing incremental capital but also introducing near‑term dilution; management has separately highlighted 2026 as a pivotal year, with a move toward a Phase 3 program for its GEO‑MVA smallpox/orthopox candidate and additional clinical readouts across its portfolio.
flyExclusive, Inc. (NYSE American: FLYX)
- FLYX has traded as a thinly followed private aviation and jet‑card operator, with shares reflecting both cyclical business‑jet demand and company‑specific execution around fleet utilization.
- Recent trading suggests the stock remains volatile but relatively quiet on new fundamental catalysts, leaving sentiment tethered to broader views on discretionary travel spending and corporate flight activity in 2026.
DoubleVerify Holdings Inc. (NYSE: DV)
- DV, a digital ad verification and measurement provider, has moved in sympathy with ad‑tech and broader software names during the AI‑driven risk‑off trade, with investors weighing AI’s potential to both enhance and disrupt ad measurement models.
- With markets focused on how AI will reshape digital advertising workflows, upcoming earnings and any commentary around AI‑enhanced products, client spending, and margin trajectory remain central to the DV equity narrative.
The InterGroup Corporation (NASDAQ: INTG)
- The InterGroup Corporation, a small‑cap real estate and hospitality‑focused holding company, has traded in the high‑$20s in recent sessions, with intraday ranges on February 12 spanning roughly the upper‑$28s to just under $29.50 and a latest quote near $29.49. Recent filings and commentary highlight that results for the quarter ended December 31, 2025, benefited from improved hotel metrics and gains on real estate transactions, even as the company continues to carry substantial mortgage and subordinated note obligations. With a market capitalization in the low‑$60 million range and thin trading, INTG remains a tightly held, event‑driven real estate story where periodic asset sales and refinancing activity can materially influence quarterly earnings.
Serina Therapeutics (NYSE American: SER)
- Serina Therapeutics, a polymer‑based drug delivery company, recently received FDA clearance for its IND on SER‑252 after a prior clinical hold, enabling initiation of site‑level work and the formal start of its next clinical phase.
Volato Group, Inc. (NYSE American: SOAR) and M2i Global, Inc. (MTWO)
Volato and M2i Global reaffirmed their goal of closing their business combination in the first quarter of 2026, citing steady advancement through SEC review and integration planning as they move toward a combined listing. The deal, originally announced in 2025, will effectively transition Volato from a pure‑play private aviation operator into a diversified platform spanning aviation technology and critical minerals, with M2i shareholders expected to own the majority of the combined entity. Operationally, the partnership is already visible: the two companies recently initiated their first shipment of titanium ore from Western Australia to the United States from Titanium X, underscoring how the critical‑minerals vertical could become a meaningful growth engine as domestic supply‑chain security rises in strategic importance.
NVIDIA (NVDA)
- NVDA slipped a bit more than 1% on Friday even as broader indices stabilized, extending a period of consolidation after peaking at an all‑time high last October.
- With earnings slated for February 25, the stock sits at the center of the AI debate: investors are watching closely to see whether data‑center and GPU demand can continue to justify premium valuations amid growing scrutiny of AI spending payback.
McDonald’s (MCD)
- MCD has generally traded as a defensive large‑cap through the week’s volatility rising .13% over the last 5-days closing at $327.58, with quick‑service fundamentals and pricing power helping it participate less in AI‑driven swings that hit higher‑beta growth names.
- Investor focus remains on traffic trends, international same‑store sales, and any commentary around automation and labor efficiency, which now intersect directly with the broader AI narrative.
Nokia (NOK)
- NOK, a legacy network and telecom equipment provider, has moved with global tech and hardware sentiment but remains more anchored to carrier capex cycles and 5G deployment than to front‑page AI headlines.
- As AI workloads demand denser and more efficient networking infrastructure, the market continues to debate how much of that incremental spend will accrue to traditional vendors like Nokia versus newer, AI‑specific architectures.
Opendoor Technologies (OPEN)
- OPEN trades as a high‑beta housing and iBuying play, making it sensitive to rate expectations and to any AI‑related reassessment of real‑estate business models.
- With Treasury yields edging lower on softer inflation and AI concerns simultaneously weighing on parts of real estate, the stock sits at a crossroads where easing financing conditions could help, even as investors remain cautious on the durability of the iBuyer model.
Fastly (FSLY, $18.26, +113.07% over the last 5-days)
Fastly Inc. (FSLY) on Wednesday reported a loss of $15.5 million in its fourth quarter. The San Francisco-based company said it had a loss of 10 cents per share. Earnings, adjusted for one-time gains and costs, came to 12 cents per share. The results exceeded Wall Street expectations.
The Sources
- Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq gains fizzle to cap week of sharp losses as AI fears grow”
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-gains-fizzle-to-cap-week-of-sharp-losses-as-ai-fears-grow-210219798.html[finance.yahoo] - The Wall Street Journal – “Stock Market News, Feb. 12, 2026: Tech Shares Lead Broad Selloff as AI Concerns Mount”
https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-02-12-2026[wsj] - Nasdaq – “Stocks Plunge on Tech Weakness and AI Fears”
https://www.nasdaq.com/articles/stocks-plunge-tech-weakness-and-ai-fears[nasdaq] - BNN Bloomberg – “Wall Street steadies after its AI-induced sell-off”
https://ca.finance.yahoo.com/news/asia-shares-lower-sharp-wall-072047890.html[ca.finance.yahoo] - Investopedia – “Markets News, Feb. 13, 2026: Stocks Post Worst Week of 2026 as AI Fears Roil Wall Street”
https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-02132026-11906132[investopedia] - Las Vegas Sun – “How major US stock indexes fared Friday, 2/13/2026”
https://lasvegassun.com/news/2026/feb/13/how-major-us-stock-indexes-fared-friday-2132026/[lasvegassun] - Reuters – “From software to real estate, U.S. sectors under the grip of AI scare”
https://www.reuters.com/business/software-real-estate-us-sectors-under-grip-ai-scare-trade-2026-02-13/[reuters] - Fortune – “Stocks: Friday the 13th brings global selloff as AI fear grips markets”
https://fortune.com/2026/02/13/stocks-friday-the-13th-global-selloff-gold-ai-fear-markets/[fortune] - Nasdaq – “Stock Market News for Feb 13, 2026”
https://www.nasdaq.com/articles/stock-market-news-feb-13-2026[nasdaq] - Yahoo Finance – “Modular Medical starts production of validation lots for Pivot pump set”
https://finance.yahoo.com/news/modular-medical-starts-production-validation-135605935.html[finance.yahoo] - Investing.com – “Modular Medical begins production of patch pump validation lots”
https://ng.investing.com/news/company-news/modular-medical-begins-production-of-patch-pump-validation-lots-93CH-2323153[ng.investing] - GeoVax Labs – “GeoVax News” (company news page including Feb. 13, 2026 offering and 2026 outlook)
https://geovax.com/geovax-news[geovax] - Yahoo Finance – “GeoVax Labs Announces $1 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules”
https://finance.yahoo.com/news/geovax-labs-announces-1-million-130000947.html[finance.yahoo] - Yahoo Finance – “Eupraxia Pharmaceuticals Inc. (EPRX) Stock Historical Prices & Data”
https://finance.yahoo.com/quote/EPRX/history/[finance.yahoo] - Yahoo Finance – “Eupraxia Pharmaceuticals Inc. (EPRX)”
https://finance.yahoo.com/quote/EPRX/[finance.yahoo] - Stock Titan – “EPRX – Eupraxia Pharmac Latest Stock News & Market Updates”
https://www.stocktitan.net/news/EPRX/[stocktitan] - StockAnalysis – “Eupraxia Pharmaceuticals (EPRX) Stock Price History 2021–2026”
https://stockanalysis.com/stocks/eprx/history/[stockanalysis] - Public.com – “EPRX Stock Forecast: Analyst Ratings, Predictions & Price Target”
https://public.com/stocks/eprx/forecast-price-target[public] - CNBC – “S&P 500 closes little changed after soft inflation report, index notches losing week: Live updates”
https://www.cnbc.com/2026/02/12/stock-market-today-live-updates.html[cnbc] - MarketWatch – “S&P 500, Dow, Nasdaq log worst day in 3 weeks as AI fears thrash stock market”
https://www.marketwatch.com/livecoverage/stock-market-today-dow-sp500-nasdaq-higher-treasurys-steady-gold-silver-dip/card/s-p-50[marketwatch] - Los Angeles Times – “Stocks drop sharply as investors hunt for losers that will be hurt by AI”
https://www.latimes.com/business/story/2026-02-12/stocks-drop-sharply-as-investors-hunt-for-losers-that-will-be-hurt-by-ai[latimes] - Yahoo Finance Topic Page – “Latest Stock Market News”
https://finance.yahoo.com/topic/stock-market-news/[finance.yahoo] - Yahoo Finance Topic Page – “Artificial intelligence – Yahoo Finance”
https://finance.yahoo.com/topic/artificial-intelligence/[finance.yahoo]
