It’s also widened to include the industry’s Wall Street backers, from lenders to private equity owners for whom software firms have been popular targets. More than $17.7 billion of U.S. tech company loans in a Bloomberg index dropped to distressed trading levels during the last four weeks.

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.

Berkshire Hathaway's stock outperformed the benchmark S&P 500 stock index this week as investors sought safety from tech selling.

The Dow jumped more than 1,000 points and the Nasdaq rose more than 2% as dip-buyers rushed into the market after days of intense selling.

Live Updates Tech Gains Buoy Nasdaq Composite Higher 1 hour ago Live Nvidia (Nasdaq: NVDA) stock has begun to rally, climbing 7% higher and helping to alleviate fears of the AI bubble in the markets.

Tech stocks are in turmoil, but Apple investors are staying calm.

There is a “crisis of confidence” gripping the technology sector, according to a Mizuho analyst. For that reason, investors may want to focus their attention on stocks backed by strong fundamentals.

The prospect of disruptions from artificial intelligence has hung over the economy for years. But this week advances in software tools precipitated a sell-off on Wall Street.

Technology shares have been selling off for three months now. In the past week alone, some of the biggest players have fallen sharply. Investors are rotating from growth to value stocks amid AI fatigue. Investor concerns about the impact of AI are growing.

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

It might be hard for investors to feel upbeat while tech stocks are tumbling. But that's exactly how some experts are reacting to the rout.