Late Night Market Recap

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•  04 Mar 2026
 

•   APLD  
   
  -1.95%
•   CRWV  
   
  -5.89%
•   GTLB  
   
  +1.28%
•   ROST  
   
  +0.61%
•   SES  
   
  -36.84%

Markets closed under a cloud of rising volatility as geopolitical tensions and macro uncertainty drove sharp swings across global equities. The volatility index surged dramatically, with India VIX posting its largest two-day jump since the COVID-era shock, climbing nearly 50% and hitting a 10-month high. U.S. markets echoed the risk-off tone as the Dow slid more than 400 points amid escalating Middle East tensions. While the CNN Fear & Greed Index remained firmly in the Fear zone, the rapid spike in volatility is beginning to raise questions about whether markets are approaching a technical reversal point after the recent correction.

$CRWV CoreWeave shares were highly active after the company announced a multiyear infrastructure partnership with Perplexity AI, a development that reinforced the growing role in the AI cloud ecosystem. The stock saw strong interest during the session as investors weighed the long-term revenue implications of the deal against growing caution from analysts. Despite a recent downgrade and warnings from some market commentators about valuation risks following earlier declines, bullish sentiment persisted thanks to CoreWeave rapid revenue expansion and continued demand for high-performance AI computing infrastructure.

$GTLB GitLab declined sharply after issuing fiscal 2027 guidance that disappointed investors despite delivering a solid fourth-quarter earnings beat. The market focused on the softer long-term outlook, sending the stock down as much as 8% during the day. Options activity surged to more than 34,000 contracts, signaling elevated trader interest as participants repositioned around the weaker forecast. The reaction highlighted how sensitive software valuations remain to forward guidance even when near-term execution remains strong.

$SES SES AI delivered one of the most volatile reactions of the day. The stock initially surged ahead of its fourth-quarter earnings release as traders speculated on potential progress in next-generation battery technology. However, sentiment shifted quickly after the company reported revenue of $4.6 million, missing expectations by more than $2 million while posting a non-GAAP loss of $0.04 per share, also below estimates. The earnings miss and weaker outlook triggered a sharp reversal in after-hours trading as investors reassessed the timeline for commercialization.

$APLD Applied Digital moved higher as investors continued to position around the accelerating demand for AI infrastructure and high-performance computing capacity. The company has been expanding its data center footprint across North America to support AI workloads, and analysts remain constructive on the longer-term growth opportunity. Applied Digital also continues to attract attention due to its high short interest, which has created the potential for amplified price moves whenever positive catalysts or analyst support emerge.

$ROST Ross Stores gained after reporting strong fourth-quarter results and record fiscal 2025 sales, reinforcing the resilience of discount retail even in a volatile consumer environment. Management also projected continued growth into 2026, a signal that value-oriented retailers are still capturing demand as shoppers remain price sensitive. Investors responded positively to the combination of steady margin performance and consistent store traffic, pushing the stock higher during the session.

$WIX Wix.com was among the gainers after outlining a mid-teens revenue growth outlook for 2026 while unveiling an expanded AI strategy that continues to gain traction. The company announced a $250 million private placement and highlighted that its AI-driven platform Base44 has already surpassed $100 million in annual recurring revenue. Although 4th-quarter results came in mixed relative to expectations, investors focused on the accelerating AI monetization strategy and capital allocation moves, sending the stock sharply higher as confidence in its long-term growth trajectory improved.

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