🔴 Software ETF (IGV) is trading 3.64% down as investors question returns on massive AI investments

IGV is trading at $104.12, down 3.64%, as software weakness reflects a broader technology selloff and doubts about returns on massive AI investments.

• Disappointing Amazon results and Intel’s weaker outlook added fresh pressure on October 30.
• Sector-specific worries were already elevated after ServiceNow’s slower contracted-growth outlook and Fortinet’s reduced service-revenue forecast triggered sharp losses. These earnings concerns are weighing on software stocks alongside the broader AI-spending reassessment.