Last week, US stock markets recorded positive dynamics after the Supreme Court’s decision to cancel the high import tariffs imposed by President Trump. Later, Trump called this decision a disgrace and announced that he would nevertheless impose a 10% global tariff for 150 days within the framework of the authority granted to him by law. Amid this relatively low-rate announcement, the S&P 500 increased by 1.08%, the Nasdaq by 1.51%, and the Dow Jones by 0.25% for the week.

The pan-European STOXX 600 index closed at a record level on Friday, increasing by 0.8%. This also reflects the positive reaction of investors to the US Supreme Court’s decision to block President Donald Trump’s decision to raise import tariffs.

Global stock funds saw their biggest inflows in five weeks in the week that ended on February 18, attracting $36.3 billion, as concerns about artificial intelligence (AI) stocks eased and investments were actively reallocated to other sectors. European funds attracted $17.2 billion, while US and Asian stock funds also recorded significant inflows. Bond funds also saw inflows for the seventh consecutive week.

Gold prices have recorded sharp fluctuations in the past week, having fallen more than 2% earlier in the week on signs of progress in US-Iran talks and a stronger US dollar. And gold prices rose more than 1% on Friday, following weaker-than-expected GDP data in the US and President Trump’s announcement of additional tariffs. Investors now await the minutes of the US Federal Reserve’s meeting and upcoming inflation data.

Shares of Figma, a digital solution design platform, rose about 14% in premarket trading on Thursday after the company reported a better-than-expected revenue forecast and announced a strategic expansion plan for its AI business. The company is forecasting revenue of $1.36 billion to $1.37 billion for 2026.

Copper prices rose 2.2% on Wednesday, recovering from a sharp 1.8% drop the previous day as investors actively bought, taking advantage of the price drop, and the industrial metals market has shown signs of recovery, along with technology stocks.

The world’s largest technology companies have continued to record significant losses in market value this year, as investors have begun to question whether the massive spending on AI will justify their high valuations. Microsoft shares have fallen about 17% since the beginning of the year, reducing the company’s market value by $613 billion, while Amazon has lost about $343 billion. Nvidia, Apple, and Alphabet have also seen their market values fall. Meanwhile, TSMC, Samsung Electronics, and Walmart have all increased their market values over the same period, signaling a shift of capital away from tech giants to other sectors.

The biggest gainer last week among companies with a market capitalization of at least $10 billion was advertising and marketing services provider Omnicom Group Inc. (OMC). The company’s shares rose 20.67% for the week to $83.26 per share. Next is Global Payments Inc. (GPN), a payment technology and financial services company, up 20.43% ($82.47 per share). Rounding out this top three is silver miner First Majestic Silver Corp. (AG), up 19.99% ($27.55 per share).

The top three largest-cap companies with the biggest losses last week start off was Genuine Parts Company (GPC), a supplier of auto parts, whose shares fell 19.77% ($118.06 per share) in a week. Next is cloud services provider Akamai Technologies, Inc. (AKAM), down 15.74% ($94.17 per share). Rounding out this top three is Okta, Inc. (OKTA), a provider of identity and access management solutions, down 14.86% ($74.29 per share).

US business activity grew at its slowest pace in 10 months in February. The S&P Global PMI index fell to 52.3, the lowest since last April. Growth in both services and manufacturing slowed. Analysts estimate that GDP will grow by just 1.5% annually in the first quarter, slowing significantly from the strong growth seen in the second half of last year.

US inflation rose more than expected in December, bolstering expectations that the Federal Reserve will not cut refinancing interest rates until June.

The US trade deficit increased sharply in December. Imports rose 3.6% despite President Donald Trump's tariffs. The bulk of the increase in imports came from capital goods, particularly computer and telecommunications equipment, which can support business investment and economic growth. Exports fell by 1.7% in December.

On Monday, 3 billion drams of government bonds were placed on Armenia’s stock market, and they will be redeemed on June 1, 2026. The public auction had four participants, and the bids submitted by them amounted to 10.2 billion drams. The weighted average price of the placed government bonds was 98.2 drams, and the yield was 6.7 percent.

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