Global software stocks extend losses amid fears over AI-led disruption
By Lee Ying Shan and Priyanka Salve, CNBC
Wall Street’s fears around artificial intelligence-driven disruption affecting software companies continued to put pressure on global stocks on Wednesday.
In premarket U.S. trade on Wednesday morning, ServiceNow and Salesforce each shed about 0.4%, while Intuit was down by 0.7%. Nvidia extended losses from the previous day, trading 0.3% lower ahead of the opening bell in New York.
During Tuesday’s session, shares of ServiceNow tumbled nearly 7%, pushing its year-to-date losses to 28%. Salesforce also dropped about 7%, bringing its 2026 decline to almost 26%. Intuit, the TurboTax parent, fell nearly 11% and is now down more than 34% year to date. Those moves contributed to the tech-heavy Nasdaq Composite sliding 1.4% on Tuesday.
