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0 0.0024579687346377 0.00589912496313041 0.00491593746927539 0.0100285124373218 -0.00314619998033632 -0.0146494936584408 -0.00983187493855078
Stock impact report

U.S. software stocks tumble sparks concerns that AI trade is reshaping markets [BNN Bloomberg (Canada)]

ServiceNow, Inc. (NOW) 
Last servicenow, inc. earnings: 4/29 04:10 pm Check Earnings Report
Company Research Source: BNN Bloomberg
Financial markets, juiced for months with investor enthusiasm about the artificial intelligence trade, got a rude awakening last week as software stocks around the globe sank on worries that fast-advancing AI tools could upend the industry. While a rebound in the broader market helped soothe nerves on Friday, the outlook for U.S. software stocks, at the epicenter of the selloff, remained murky. Despite a two per cent rebound on Friday, options market participants remained on high alert for further pain. The selloff, which crossed continents knocking stocks from Europe to Asia, was triggered by a new legal tool from Anthropic's Claude large language model that raised existential questions about traditional software business models. Investors are questioning whether the earnings-compounding nature of software companies would get disrupted, with strategists noting a broader rotation into value and cyclical-oriented sectors such as consumer staples, energy and industrials. Softwa Show less Read more
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