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HomeMarket NewsUS Stock Market Live Update: Dow, S&P, Nasdaq drop amid oil surge; software stocks lead declines
US Stock Market Live Update: Stocks lost steam on Thursday as rising oil prices and fresh jitters around the Iran conflict weighed on investor sentiment, dragging software names lower. The S&P 500 slipped 0.3% after briefly hitting a fresh intraday high. The tech-heavy Nasdaq Composite dropped 0.8%, while the Dow Jones Industrial Average fell 151 points, or 0.3%.
US Stock Market Live Update: Stocks lost steam on Thursday as rising oil prices and fresh jitters around the Iran conflict weighed on investor sentiment, dragging software names lower.
The S&P 500 slipped 0.3% after briefly hitting a fresh intraday high. The tech-heavy Nasdaq Composite dropped 0.8%, while the Dow Jones Industrial Average fell 151 points, or 0.3%.
Earnings-driven cuts led the slide. IBM fell 8% despite beating estimates, as unchanged full-year guidance failed to impress investors. ServiceNow plunged 17% after flagging a hit to subscription growth from Middle East disruptions.
The weakness spilled across the software pack. Microsoft declined 4%, Palantir Technologies dropped 6%, and Oracle slipped 5%. The iShares Expanded Tech-Software Sector ETF was down about 5%, reflecting broad-based pressure in the segment.
