Enterprise Software Stocks Crash — ServiceNow Posts Worst Day on Record (-18%) as AI Disruption Fears Spread
CNBC·high signal
ServiceNow sank 18% (worst day ever), Salesforce -9%, HubSpot -9%, IBM -8%, Adobe -7%, Intuit -7%, Oracle -5%. The iShares Expanded Tech-Software ETF shed 5%. The fear: low-cost AI agents can automate workflows that enterprise SaaS vendors charge for today, triggering a structural repricing of the entire sector.