Selloff wipes out nearly $1 trillion from software and services stocks as investors debate AI's existential threat

By Chibuike Oguh, Danilo Masoni and Medha Singh Feb 4 (Reuters) - Investors were assessing on Wednesday whether a selloff in global software stocks this week had gone too far, as they weighed if businesses could survive an existential threat posed by artificial intelligence. The answer: It's unclear, but AI's development will involve volatility. After a broad selloff on Tuesday that saw the S&P 500 software ​and services index fall nearly 4%, the sector slipped another 0.73% on Wednesday, notching the ...