Tech Leads Stock Market Sell-Off
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Wall Street is seeing investors turn away from AI darlings toward safer investments after a rout in the sector led to losses across major gauges.
SaaS companies took major hits: Microsoft closed down 2.87%, SAP was down 3.29% this morning on the German market, Salesforce lost 6.85% yesterday and was further down in overnight trading, ServiceNow was down 6.97% yesterday and was marginally lower overnight, also.
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This company is proving that you can win in insurance with a better customer experience.
AppLovin (NASDAQ:APP) stock fell 12% Wednesday while Unity Software (NYSE:U) dropped 10%, extending Tuesday’s declines as software names faced overwhelming negative sentiment across the sector.
Anthropic, the AI firm behind the Claude chatbot, sparked an unexpected sell-off across software and publishing stocks with the launch of a new tool that is linked with the legal industry.
Beyond the “Magnificent Seven” names, Wall Street analysts see opportunities in software and specialized semiconductor plays.
Investing in Dominion Energy could be a good way to profit from the growth of the artificial intelligence sector.
IT stocks crash: Indian IT stocks, including tech behemoths like Tata Consultancy Services, Infosys and Wipro, fell like ninepins in the early morning trade on Wednesday, February 4.