Software stocks down following escalating violence in Middle East
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bunhill
Software stocks are falling today following the escalating violence in the Middle East.
While oil and gold are rising, U.S. stocks are falling due to sell-offs, including in the software industry.
Unity Software (NYSE:U) was leading the losses with a 3.5% decline, while Palo Alto Networks (NASDAQ:PANW) and MongoDB (NASDAQ:MDB) slipped 3% by mid-afternoon trading.
Microsoft (NASDAQ:MSFT) was down nearly 2% despite the company rolling out an array of new Copilot features today. Adobe (NASDAQ:ADBE) and ServiceNow (NYSE:NOW) also dropped 2%.
Intuit (INTU) fell 1.7%, while Synopsys (SNPS) and Oracle (ORCL) both slipped 1.5%.
Palantir (PLTR), IBM (IBM), CrowdStrike (CRWD) and Workday (WDAY) all slid 1%.
Salesforce (CRM), The Trade Desk (TTD) and AppLovin (APP) declined 0.5%, and Accenture (ACN) inched down a modest 0.25%.