UK stocks rebounded alongside Wall Street as investors bought the dip in tech shares. The FTSE 100 closed 0.6% higher, up 60 points to 10,370, while the FTSE 250 gained 0.5% to 23,208.
More than £18bn was wiped off the market value of London-listed software and data firms over the past week amid fears that AI could disrupt the sector.
WEEK AHEAD COMMODITY REPORT: Gold & Silver Price Forecast: 2 – 6 February 2026
Gold and silver prices have rebounded after sharp intraday falls last week. Gold is up nearly 2% to $4,960 an ounce, recovering from a drop from its record $5,600 to $4,400 as investors briefly shifted back into the dollar ahead of the announcement of Kevin Warsh as the next Federal Reserve chair.
Silver has risen 1% to $77.46 an ounce, above the $68 level it hit during a historic 30% one-day plunge. Both metals have recovered alongside a reversal in tech stocks and Bitcoin.
Bitcoin has risen 7.82% after suffering its worst one-day loss on record on Thursday, when it plunged as much as 14%, fell below $64,000 for the first time since September 2024, and wiped $200bn (£178bn) off its value. The world’s largest cryptocurrency is now hovering above $72,000 following a broader tech-driven market sell-off. .
More than £18bn was wiped off London-listed software and data firms over the past week amid fears AI could disrupt the industry. However, markets rebounded as investors bought the dip, with the tech-heavy Nasdaq rising 2%, the S&P 500 up 1.7%, and the Dow Jones climbing 2% to a new high of 49,938 points.
