BUZZ-Software stocks top laggards amid broader market weakness

Reuters03-24 23:36
BUZZ-Software stocks top laggards amid broader market weakness 

** Shares of U.S. software-related companies fall, with S&P 500 Software and Services index .SPLRCIS dropping 3%, hitting a one-month low

** Cloud software provider Salesforce CRM.N slides 5.2%, the biggest percentage decliner on the Dow .DJI

** Data analytics firms FactSet Research FDS.N down 4%, ratings provider S&P Global SPGI.N loses 2.8% and applied-analytics software company Fair Isaac FICO.N sheds 5.5%

** CrowdStrike CRWD.O, Adobe ADBE.O, Intuit INTU.O and Atlassian Corp TEAM.O decline between 3.5% and 7.5%

** Cloud security firm Zscaler ZS.O drops 5.6%, cloud firm Oracle ORCL.N loses 3.7% and Microsoft MSFT.O down 2.5%

** The benchmark S&P 500 dips on Tuesday as renewed doubts over easing Middle East tensions tempered the previous session's relief rally

** Worries that advances in AI could upend software companies' business models triggered a major selloff in tech stocks earlier this year

(Reporting by Shashwat Chauhan in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com))

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