U.S. software stocks plunge as reports indicate Amazon launches new AI tools
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Previously, due to market concerns about the disruptive impact brought by artificial intelligence (AI), this sector had been performing sluggishly. The stocks with significant declines include: Atlassian down 8.6%, UiPath down 8.5%, HubSpot down 7.9%, Intapp down 7.7%, Pegasystems down 6.6%, Zeta Global down 6.7%, GitLab down 6%, Oracle down 4.1%, Microsoft down 2.7%. iShares Technology Software ETF fell 3.9%, with a cumulative decline of 23% for the year. Expand Related articles: Iran's war and credit crisis hit simultaneously, U.S. stocks open lower, technology stocks fall, spot gold's decline narrows, Brent crude rises about 2%.
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