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Hey listeners, it's Saturday, February 7th. I'm Jack Pitcher for the Wall Street Journal,

and this is What's News in Markets,

our look at the biggest stock moves of the week

and the news that drove them.

Let's get to it.

February opened with fireworks,

with markets posting one of their most volatile weeks

of the last year.

The driver, rapid advancements in AI are making investors question

some long-held assumptions. Software developers, data and research companies, and IT services

providers all got clobbered this week on concerns that AI is a threat to their businesses.

The sell-off was most pronounced on Tuesday, when Wall Street analysts zoomed in on

new features from Anthropics AI model, Claude. Its ability to assist with legal research and review

prompted investors to dump shares of companies that focus on those areas. The sell-off quickly

spread to software companies, with several recording their sharpest single-day stock declines

since the pandemic.

Investors buying the dip helps stocks gain back some ground on Friday, but the tech-focused

...