ServiceNow Tumbles 26.95% as AI-Linked Stocks Fall at U.S. Close

ServiceNow shares fell 26.95% at the Oct. 29 U.S. close as losses spread across several AI-linked stocks, while the Nasdaq Composite’s 1.38% decline outpaced drops in the Dow and S&P 500.

The Dow Jones Industrial Average fell 0.25%, and the S&P 500 lost 0.3%, while the Nasdaq Composite slid 1.38%. The VIX rose 1.71%, making it the only market measure in the closing snapshot to finish higher.

ServiceNow posted the sharpest loss among the five AI-linked companies named. Marvell fell 13.24%, Alphabet declined 12.64%, Atlassian lost 7.28% and Teradyne dropped 5.43%. All five stocks ended the session lower.

ServiceNow’s loss was slightly more than twice Marvell’s, the next-steepest drop among the named stocks. All three major indexes also finished lower, with the Nasdaq’s 1.38% decline leading the index losses. The closing figures placed the largest drop among the named AI-linked stocks alongside declines in the Dow, S&P 500 and Nasdaq, while the VIX moved higher.