Today, Feb. 19, 2026, Walmart’s cautious outlook rattled U.S. stocks as investors weighed fading rate-cut hopes and rising geopolitical risk.
The S&P 500 (^GSPC 0.28%) fell 0.28% to 6,861.89, breaking a three-day winning streak. Geopolitical tensions and weaker confidence weighed on the Nasdaq Composite (^IXIC 0.31%), which slipped 0.31% to 22,682.73, and the Dow Jones Industrial Average (^DJI 0.54%), which dropped 0.54% to 49,395.16.
Market movers
Walmart (WMT 1.41%) fell after issuing weaker-than-expected guidance. This put pressure on Dow futures and retail peers. DoorDash (DASH +1.65%) and Medical Properties Trust (MPT +12.10%) gained on upbeat outlooks and revenue. Corcept Therapeutics (CORT 14.01%) dropped double digits after losing a key patent appeal.
What this means for investors
Stocks retreated today as geopolitical tensions ratcheted higher and traders re-evaluated any hopes of imminent Fed rate cuts. The expectation of further PCE inflation data tomorrow added to the cautious mood.
Crude oil prices spiked amid heightened US-Iranian uncertainty. Gold prices also edged upwards as investors looked to safe-haven assets. Energy stocks also gained, with ExxonMobil (XOM +0.19%) and Chevron (CVX +0.56%) both in the green.
Tech concentration concerns persist, as the Nasdaq remains dominated by a narrow group of leaders. Megatech stocks saw mixed trading, with Nvidia (NVDA 0.11%) pulling back slightly after yesterday’s gains. Software stocks, such as Salesforce (CRM 1.30%) and ServiceNow (NOW 0.48%) continued to falter on lingering AI disruption fears.
Some commentators compare today’s bull market to the situation in the late 1990s, fuelling fears of a stock market crash. For investors, it’s important to manage risk and watch upcoming data for further warning signals.
Emma Newbery has positions in Nvidia. The Motley Fool has positions in and recommends Chevron, Corcept Therapeutics, DoorDash, Nvidia, Salesforce, ServiceNow, and Walmart. The Motley Fool has a disclosure policy.