• International Business Machines is trading 5.5% down at $247.90 today, extending yesterday's sharp decline of $262.35.
  • The decline follows a new IBM study, released yesterday, indicating enterprises struggle with AI dependencies, raising concerns for IBM's hybrid cloud and watsonx product lines.
  • Broader sector pressure from Accenture's lowered guidance for the IT services sector and a hawkish Fed dot plot also contributed to the stock's movement.