Software Stocks Slide for Second Day

• Software stocks are in a second day of sell-off, with over $2 trillion wiped off the Goldman Sachs software index since its highs.
• The sell-off is attributed to concerns about new AI automation tools, specifically mentioning Anthropic PBC's new productivity tool.
• The market reaction is broad, impacting hardware stocks like Nvidia and Google, and spreading to European markets, with some investors seeing potential for a rebound as many stocks are oversold.

Software stocks are experiencing a second day of significant sell-off, with over $2 trillion wiped off the Goldman Sachs software index since its highs, driven by concerns over new AI automation tools like Anthropic's. The sell-off is broad, affecting both software and hardware stocks globally, though some investors are starting to 'nibble' given oversold conditions.