US Stock Market Highlights: Wall Street ends lower as software slump, Iran tensions drag markets
US Stock Market Highlights: The S&P 500 slipped 0.4% after earlier hitting a fresh intraday high, while the tech-heavy Nasdaq Composite declined 0.9%, also pulling back after touching a record during the session. The Dow Jones Industrial Average fell about 180 points, or 0.4%, reversing part of its recent gains.
US Stock Market Highlights: Wall Street ended lower on Thursday, retreating from record levels as a selloff in software stocks and a sharp rise in oil prices weighed on investor sentiment amid lingering uncertainty over the Iran conflict.
The S&P 500 slipped 0.4% after earlier hitting a fresh intraday high, while the tech-heavy Nasdaq Composite declined 0.9%, also pulling back after touching a record during the session. The Dow Jones Industrial Average fell about 180 points, or 0.4%, reversing part of its recent gains.
Losses were led by software stocks following earnings-driven declines. Shares of IBM and ServiceNow dropped 8% and 17%, respectively.
While IBM beat estimates on both revenue and profit, its decision to maintain full-year guidance disappointed investors. ServiceNow, meanwhile, flagged that subscription revenue growth was impacted by the ongoing Middle East conflict.