Software stocks plunge on ServiceNow, IBM results as AI fears escalate
ServiceNow shares fell 16% after earnings, dragging down Salesforce, Workday, and Oracle amid AI fears.
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software stocks took a hit thursday after servicenow's earnings disappointed. shares of servicenow sank over 16%, dragging salesforce, workday, and oracle down with it. the selloff came as investors worried that the ai boom isn't translating into strong enough sales for enterprise software companies. ibm also reported results that failed to reassure the market, adding to the broader tech anxiety.
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