Tech Stocks Slide for Second Day on Lingering Software Fears

Technology stocks tumbled for a second straight day as the artificial intelligence-fueled exodus from software stocks once again spilled over into the broader market.

The Nasdaq 100 Index closed 1.8% lower, declining for a second-straight session. It is the gauge’s biggest two-day rout since October. Advanced Micro Devices Inc. was the biggest decliner, sinking the most in more than seven years following an underwhelming earnings report. The S&P 500 Index fell 0.5%, while the Cboe Volatility Index hovered near 19.