#saaspocalypse
saaspocalypse
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Today $665B was wiped from the markets, $575B from US stocks and $90B from crypto.
The selloff was led by enterprise software and tech, hit by a second straight day of “AI agents will replace SaaS” fears alongside a Middle East oil spike that soured risk appetite. Among the biggest losers in the stock market were IBM (-7.17%), Datadog (-6.99%), ServiceNow (-6.1%), Oracle (-5.83%), Snowflake (-5.8%) and Dell (-5.71%), with Nvidia, Amazon and Microsoft each down around 3%.
Crypto fell harder in percentage terms even as its dollar loss was smaller. Bitcoin slid about 4% to roughly $65,100 and Ethereum dropped about 5% to near $1,830, with major altcoins including Solana, Dogecoin and Cardano also in the red on a broad risk-off move and continued ETF outflows.
Follow @Wajid_Khan for daily Updates 🔥
#SaaSpocalypse , #IBM , #Ethereum , #RiskOff , #MarketSelloff , $BTC $ETH
The selloff was led by enterprise software and tech, hit by a second straight day of “AI agents will replace SaaS” fears alongside a Middle East oil spike that soured risk appetite. Among the biggest losers in the stock market were IBM (-7.17%), Datadog (-6.99%), ServiceNow (-6.1%), Oracle (-5.83%), Snowflake (-5.8%) and Dell (-5.71%), with Nvidia, Amazon and Microsoft each down around 3%.
Crypto fell harder in percentage terms even as its dollar loss was smaller. Bitcoin slid about 4% to roughly $65,100 and Ethereum dropped about 5% to near $1,830, with major altcoins including Solana, Dogecoin and Cardano also in the red on a broad risk-off move and continued ETF outflows.
Follow @Wajid_Khan for daily Updates 🔥
#SaaSpocalypse , #IBM , #Ethereum , #RiskOff , #MarketSelloff , $BTC $ETH
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