02:00 PM EST, 02/03/2026 (MT Newswires) -- US benchmark equity indexes were lower intraday amid a plunge in the technology sector, while gold and silver prices registered sharp gains.

The Nasdaq Composite was down 2.1% at 23,102.6 after midday Tuesday, while the S&P 500 fell 1.4% to 6,881.4. The Dow Jones Industrial Average lost 0.9% to 48,956.4. Among sectors, tech slumped 3%, the worst performer. Energy paced the gainers with a 2.3% advance.

IBM ( IBM ) shares plunged 9.5%, the steepest decline on the Dow. Other tech majors Salesforce ( CRM ) , Nvidia ( NVDA ) , Microsoft ( MSFT ) , and Amazon.com ( AMZN ) followed IBM ( IBM ) on the index, respectively.

"Recent results from major (tech) companies have highlighted growing investor scrutiny on returns from heavy capital expenditure plans," D.A. Davidson said in a note.

Gold jumped 6.3% to $4,946.20 per troy ounce intraday, while silver soared 8.3% to $83.40 per ounce.

"Gold and silver prices rebounded sharply as investors snapped up the metals following their steepest two-day slump in decades," D.A. Davidson wrote.

US Treasury yields were little changed intraday, with the 10- and two-year rates at 4.28% and 3.57%, respectively.

In company news, PayPal ( PYPL ) shares tumbled nearly 21%, the steepest decline on the S&P 500, after the payments company issued a downbeat 2026 profit outlook and missed Wall Street's views for the fourth quarter, while it named a new chief executive.

Palantir Technologies ( PLTR ) shares jumped 6.6%, among the best performers on the S&P 500. The software maker late Monday posted stronger-than-expected fourth-quarter results as its US revenue nearly doubled year over year.

Walmart ( WMT ) shares were up 2.5% intraday Tuesday, the second-top gainer on the Dow and propelling the retail giant's market capitalization past $1 trillion.

Advanced Micro Devices ( AMD ) , Amgen ( AMGN ) , Emerson Electric ( EMR ) , Mondelez International ( MDLZ ) , Chipotle Mexican Grill ( CMG ) , and Electronic Arts ( EA ) are scheduled to report results after the closing bell Tuesday, along with others.

West Texas Intermediate crude oil was up 1.2% at $62.88 a barrel intraday.

The House was voting on final passage of a funding package in a bid to end a partial US government shutdown, CBS News reported. Among other things, the package would fund the Department of Homeland Security through Feb. 13, giving lawmakers time for negotiations regarding reforms to immigration enforcement, according to the report.

On Monday, the Bureau of Labor Statistics said it won't publish January's nonfarm payrolls report on Friday because of the government shutdown.