ServiceNow Inc. signage during the Nvidia GPU Technology Conference in San Jose, California, on March 20, 2025.
David Paul Morris | Bloomberg | getty Images
Software stocks on Thursday slid deeper into an ongoing intense sell-off this year as investors recoiled from the sector on growing fears that artificial intelligence could upend many firms’ business models.
The iShares Expanded Tech-Software Sector ETF (IGV) dropped about 5% in morning trading, on pace for its biggest one-day decline as last April during the tariff-triggered downturn.The fund is now down about 21% from its recent high, pushing the software industry into bear-market territory and underscoring how quickly sentiment has turned against one of wall Street’s former favorite industries.
Month to date, IGV is down almost 14%, on pace for worst month as october 2008 when the fund fell 23%.