DALLAS (AP) — The Washington Wizards are acquiring Anthony Davis in an eight-player trade with the Mavericks that includes draft picks for Dallas, a person with knowledge of the deal said Wednesday.
The move is a signal the Mavericks are moving on from the widely criticized trade that sent superstar Luka Doncic to the Los Angeles Lakers for a package headlined by Davis last year.
Former general manager Nico Harrison, who was fired by Dallas in November, engineered the middle-of-the-night deal that angered fans. Trade speculation had surrounded Davis ever since Harrison was let go following a slow start to the season.
The Wizards are sending Khris Middleton, AJ Johnson, Malaki Branham and Marvin Bagley III to the Mavericks along with two first-round draft picks and three second-rounders, according to the person who spoke to The Associated Press on condition of anonymity because the deal had yet to be approved by the NBA.
Washington is getting three guards from Dallas in Jaden Hardy, D'Angelo Russell and Dante Exum.
The Wizards have made a stark shift recently from their rebuild after losing 67 and 64 games the past two seasons. Washington traded for Trae Young last month and now adds Davis to a group of young players that includes big man Alex Sarr, the No. 2 pick in 2024.
It’s not clear if Young or Davis will play much this season, which could be for the best given the Wizards lose their top draft pick this year if it falls outside No. 8.
Still, a deal like this suggests Washington is ready to move on from the phase of waiting for lottery luck. A 2026-27 team with Davis, Young, Sarr and other complementary players could be interesting in the Eastern Conference, although health is always a concern with somebody like Davis.
The 10-time All-Star has been out since Jan. 8 with a left hand injury and wasn't expected to return before the All-Star break later this month.
Harrison's Doncic-for-Davis deal was so heavily criticized because he took on the big man with an extensive injury history while giving up a generational talent in his prime. Doncic was 25 at the time of the trade.
As might have been expected, Davis appeared in just 31 of a possible 84 games over two partial seasons with the Mavericks, including the two play-in tournament games he played last season.
The 32-year-old's ailments included a core muscle issue and a calf strain before Davis injured his hand while defending a driving Lauri Markkanen of Utah last month.
The trade is a big step for Dallas toward making Cooper Flagg the next face of the franchise after Doncic. The rookie No. 1 pick set an NBA scoring record for a teenager with 49 points against Charlotte last week, and the 19-year-old is on a three-game streak of 30-point games, another league first for the under-20 group.
Flagg, who is averaging 20.1 points per game a year after leading Duke to the Final Four as just the fourth freshman to be named the AP men's basketball player of the year, doesn't turn 20 until next season.
The Mavericks lost all three games on Flagg's current 30-plus run and are on a five-game skid, a season worst. Dallas is 12th in the West at 19-31, making it increasingly unlikely that guard Kyrie Irving will play this season. The nine-time All-Star tore the ACL in his left knee last March.
Dallas is likely to miss the playoffs for the second consecutive season since Doncic and Irving led them to the 2024 NBA Finals. Boston won that series in five games.
Harrison traded Doncic believing that Davis, an elite player at both ends of the court, could pair with Irving to keep the Mavericks in contention for several years. Instead, Davis and Irving shared the court just once before Davis exited with an aggravation of his abdominal injury in the third quarter of his Dallas debut. Irving injured his knee less than a month later.
AP Sports Writer Noah Trister in Washington contributed to this report.
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Milwaukee Bucks guard Ryan Rollins (13) guards against Washington Wizards forward Khris Middleton, right, during the first half of an NBA basketball game, Thursday, Jan. 29, 2026, in Washington. (AP Photo/John McDonnell)
NEW YORK (AP) — The U.S. stock market slipped under the weight of sinking technology stocks. The S&P 500 dipped 0.5% Wednesday, its fifth drop in the last six days. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite fell 1.5%. Most stocks within the S&P 500 rose, but the index sank as Advanced Micro Devices and other influential tech stocks fell. AMD dropped even though the chip company reported a stronger profit for the latest quarter than analysts expected. Gold and silver prices pared gains from earlier in the day, while Treasury yields held relatively steady.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
NEW YORK (AP) — The U.S. stock market is slipping on Wednesday under the weight of sinking technology stocks.
The S&P 500 dipped 0.2% and is on track for a fifth modest drop in the last six days. The Dow Jones Industrial Average was up 339 points, or 0.7%, with an hour remaining in trading, and the Nasdaq composite was down 1.1%.
Nearly three out of every four stocks within the S&P 500 rose, but falling technology stocks weighed on the index for a second straight day. Advanced Micro Devices dropped 15.8% even though the chip company reported a stronger profit for the latest quarter than analysts expected. It also gave a forecast for revenue for the start of 2026 that topped analysts’ expectations, but that may not have been enough for investors after its stock had doubled over the last 12 months.
Tech stocks are broadly feeling pressure, even when they deliver stronger-than-expected profits. Big Tech stocks are facing criticism that their prices shot too high following their yearslong dominance of the market. Companies like software makers, meanwhile, are struggling with questions about whether they’ll lose in the future to competitors powered by artificial-intelligence technology.
Uber Technologies also dragged on the market after falling 4.9%. The ride-hailing company reported results for the latest quarter that fell short of analysts' expectations. It also gave a forecast for profit in the current quarter that was below analysts' expectations, while naming a new chief financial officer.
Some tech stocks nevertheless climbed, including a 14.1% rise for Super Micro Computer. The company, which sells AI servers and other equipment, delivered a stronger profit for the latest quarter than analysts expected.
Eli Lilly rallied 9.5% after topping analysts’ expectations for profit in the latest quarter. It’s been riding big growth created by its Mounjaro and Zepbound products for diabetes and weight loss.
Match Group climbed 6.7% after reporting better results than analysts expected and increasing its dividend. The company credited early signs of success from efforts to improve outcomes for users. It said a new facial verification feature for its Tinder service, for example, led to a sharp drop in interactions with “bad actors” where it’s been rolled out.
Walmart edged up by 0.1%, a day after its total market value topped $1 trillion for the first time. The retailer has broken into a small club dominated by Big Tech companies like Nvidia and Apple, which are each worth more than $4 trillion.
Gold and silver prices rose after paring bigger, early gains. Gold added 0.3% to settle at $4,950.80 per ounce after earlier climbing back above the $5,000 mark. It’s been swinging sharply after roughly doubling in price over 12 months. It neared $5,600 last week and then fell below $4,500 on Monday.
Silver’s price, which has been on an even wilder ride, rose 1.3%.
Their prices had surged as investors looked for safer places to keep their money amid worries about everything from tariffs to a weaker U.S. dollar to heavy debt loads for governments worldwide. But critics said their prices rose too far, too fast and were due for a pullback.
In the bond market, Treasury yields held relatively steady following a couple mixed reports on the U.S. economy.
One from ADP Research suggested that U.S. employers outside of the government hired fewer workers last month than economists expected. A second from the Institute for Supply Management said that growth for health care, construction and other U.S. services businesses continued in January at the same pace that economists expected.
That second report, though, also indicated that prices paid by U.S. services businesses rose at a faster rate in January, which could be a discouraging signal for inflation.
The yield on the 10-year Treasury edged down to 4.27% from 4.28% late Tuesday.
In stock markets abroad, indexes were mixed across Europe and Asia.
Japan’s Nikkei 225 fell 0.8% from its all-time high. Nintendo sank 11%, even as the video game company reported strong profits. Investors and analysts are concerned about whether sales momentum can be maintained for the Switch 2 game console that was rolled out last year.
South Korea’s Kospi, meanwhile, climbed 1.6% to another record.
AP Business Writers Chan Ho-him and Matt Ott contributed.
Traders Michael Smyth, left, and Neal Catania work on the floor of the New York Stock Exchange, Tuesday, Feb. 3, 2026. (AP Photo/Richard Drew)
Traders Sean Spain, left, and Chris Lagana work on the floor of the New York Stock Exchange, Tuesday, Feb. 3, 2026. (AP Photo/Richard Drew)
Phil Fracassini, center, works with fellow options traders on the floor of the New York Stock Exchange, Tuesday, Feb. 3, 2026. (AP Photo/Richard Drew)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, Feb. 2, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
Specialist Anthony Matesic works at his post on the floor of the New York Stock Exchange, Monday, Feb. 2, 2026. (AP Photo/Richard Drew)
Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Tuesday, Feb. 3, 2026. (AP Photo/Richard Drew)
The logo for Gold.com is displayed above a trading post on the floor of the New York Stock Exchange, Tuesday, Feb. 3, 2026. (AP Photo/Richard Drew)
