On the 27th, all three major U.S. stock indices closed lower. Financial and technology stocks broadly declined. On Friday local time, geopolitical tensions in the Middle East weighed on market risk appetite. Additionally, the latest U.S. Producer Price Index for January showed both year-over-year and month-over-month increases significantly exceeding expectations, raising investor concerns about persistent inflationary pressures that could hinder the Federal Reserve from cutting interest rates again. As a result, all three major U.S. indices closed lower for the day. At the close, the Dow Jones fell by 1.05%, the S&P 500 dropped 0.43%, and the Nasdaq declined 0.92%.

By sector, the S&P 500 financial sector fell approximately 2% on Friday due to liquidity strains in several private credit funds, heightening investor worries about default risks in the industry. Among the decliners, American Express plunged 7.9%, and Goldman Sachs dropped 7.5%. U.S. technology stocks also saw widespread declines on Friday. Despite chip giant Nvidia reporting blockbuster earnings earlier in the week, its stock fell significantly for a second consecutive day on Friday, bringing its two-day loss to over 9%. This indicates ongoing investor concerns about the sustainability of massive AI capital expenditures by large tech companies and expectations that Nvidia's profit growth will gradually slow.

For the week, all three major U.S. indices closed lower. Investor skepticism about AI technology potentially replacing enterprise-level software and doubts about the longevity of the AI investment boom led to volatility and declines in software, AI-concept, and semiconductor stocks. For the week, the Dow Jones fell 1.31%, the S&P 500 declined 0.44%, and the Nasdaq dropped 0.95%.

Friday marked the final trading day of February. Reviewing the month, as investors questioned the future profitability of technology stocks, institutional funds flowed into heavy-asset stocks perceived as resilient to "AI disruption," such as water and electricity infrastructure and utility companies. The three major U.S. indices had mixed performances in February: the Dow Jones gained 0.17%, while the S&P 500 fell 0.87%, and the Nasdaq declined 3.38%.

In Europe, the three major indices closed mixed on the 27th. Investors continued to focus on earnings reports from several industry leaders. Swiss Re Group reported a 47% year-over-year increase in full-year net profit for fiscal 2025, with total earnings reaching $4.8 billion, significantly exceeding expectations. The group also announced a plan to repurchase up to $1.5 billion in shares this year. Following the report, Swiss Re's stock surged 5.18% on Friday. However, stocks in sectors like banking and airlines mostly declined, leading to a mixed close for the major European indices. At the close, the UK market rose 0.59%, the French market fell 0.47%, and the German market edged down 0.02%. The UK's FTSE 100 index hit a record closing high.

International oil prices rose significantly on the 27th, with cumulative gains for February exceeding 2.5%. In the crude futures market, heightened investor concerns about U.S.-Iran tensions drove prices higher on Friday. At the close, the April delivery light crude oil futures contract on the New York Mercantile Exchange settled at $67.02 per barrel, up 2.78%. The April delivery Brent crude futures contract on the London market settled at $72.48 per barrel, up 2.45%. Recently, influenced by Middle East geopolitical tensions, international oil prices have trended upward, posting cumulative gains for both the week and the month of February. For the week, New York crude rose 0.95%, and Brent crude gained 1.00%. For the full month of February, New York crude increased 2.78%, and Brent crude rose 2.53%. Brent prices reached their highest level in six months.

Gold and silver futures prices in New York rose on the 27th, with silver futures surging over 18% for the full month of February. In the precious metals market, Middle East geopolitical tensions boosted safe-haven demand, while a decline in the U.S. dollar index contributed to a rise in international gold prices on Friday. At the close, the April delivery gold futures contract on the COMEX division of the New York Mercantile Exchange settled at $5,247.90 per ounce, up 1.03%. For silver, physical scarcity and industrial demand driven by green energy and AI technology development continued to fuel investor optimism about rising prices. New York silver futures rose significantly on Friday. The May delivery silver futures contract settled at $93.291 per ounce, up 6.52%.

Reviewing the week and the entire month of February, ongoing Middle East conflicts, a setback for the former Trump administration's so-called "reciprocal tariffs" policy in the Supreme Court, and subsequent plans for a new 15% global tariff triggered multiple rounds of safe-haven trading. Consequently, international gold and silver futures prices posted significant gains for both the week and the month. International gold prices rose 3.29% for the week and 10.60% for the month of February, marking a seventh consecutive monthly gain. New York silver futures surged 13.30% for the week and accumulated a substantial 18.80% gain for February.