A broad selloff swept through large-cap equities during the week of February 9-13, with ten major stocks experiencing double-digit percentage declines driven primarily by disappointing earnings results and reduced forward guidance. Pinterest led the downturn, sliding 21.73% following a fourth-quarter earnings miss and weak first-quarter outlook that prompted multiple analyst downgrades. DraftKings declined 18.65% after reporting underwhelming fourth-quarter earnings and issuing below-consensus fiscal 2026 guidance, signaling investor concerns about the company's growth trajectory.
Beyond these notable decliners, several other large-cap stocks also faced significant pressure. Astera Labs fell 23.74%, Zillow dropped 20.89%, Medpace declined 20.69%, and Flutter Entertainment decreased 18.88%. These declines reflected a combination of earnings misses, widespread analyst downgrades, and broader market concerns regarding profitability in the technology sector, particularly regarding artificial intelligence investments and their near-term return prospects.
The week's performance underscores investor sensitivity to earnings quality and forward-looking guidance in the current market environment, with companies missing expectations facing swift and severe market corrections regardless of sector or business model.