SaaS companies took major hits: Microsoft closed down 2.87%, SAP was down 3.29% this morning on the German market, Salesforce lost 6.85% yesterday and was further down in overnight trading, ServiceNow was down 6.97% yesterday and was marginally lower overnight, also.

Banks are also advancing in recent days, Cramer noted, because investors may be believing that these are the types of firms that benefit from artificial intelligence improving efficiency. So are the industrials like Honeywell, Dover, and Emerson Electric .

Major stock indexes finished sharply lower Tuesday, dragged by technology shares, although the Dow Jones Industrial Average hit a new all-time high before reversing course. Meanwhile, gold and silver futures resumed their ascent.

US stocks got hit as oil investors skimmed profits in the tech sector and concerns rose over higher oil prices.

Investors see weak ROI ahead as they also see AI adoption so pervasive that it makes whole business models obsolete. Both can’t be true, BofA says.

Melius Research's Ben Reitzes sees upside ahead for Nvidia, Broadcom and Microsoft as enthusiasm for makers of components that are in short supply winds down.

IT stocks crash: Indian IT stocks, including tech behemoths like Tata Consultancy Services, Infosys and Wipro, fell like ninepins in the early morning trade on Wednesday, February 4.

Here are some factors driving the S&P 500 and Nasdaq composite indexes lower today: Investors are reconsidering the AI trade. Anthropic’s recently unveiled AI legal tools spurred people to reconsider how quickly the technology might advance—and what industries will be disrupted as a result.

This company is proving that you can win in insurance with a better customer experience.

Tech stocks are trading lower as investors assess whether AI could upend current software leadership. Analysts say the market reaction is overblown.