IGV is trading at $108.51, down 3.04%, after ServiceNow’s earnings miss and weaker fourth-quarter revenue and contracted-growth outlook triggered a sharp selloff.
- Fortinet also dropped after its results, adding pressure across software stocks.
- Investors weighed Alphabet’s revenue shortfall and AI-spending concerns, renewing worries about cloud growth and returns on AI investment.
- Microsoft’s strong results offered a counterpoint but did not prevent the sector decline.