Software sector downturn impacts markets as Iran war stalemate continues

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A ceasefire between the U.S. and Iran is in place, but control of the Strait of Hormuz remains contested, leading to rising oil prices. The U.S. maintains a blockade while Iran also blocks the waterway. This stalemate, coupled with a software sector downturn after disappointing earnings from ServiceNow and IBM, caused stock markets to fall. Concerns about AI disruption continue to impact software stocks, with the iShares Expanded Tech-Software Sector ETF down significantly year-to-date.


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Software sector downturn impacts markets as Iran war stalemate continues | News Minimalist