# S&P 500 gained for seventh straight day on Thursday but this segment sold-off again.

*business · news · 2026-04-09 · CNBC TV18*

## Key points

- The iShares Expanded Tech-Software Sector ETF (IGV) closed at its lowest level since 2023.
- IGV has extended its year-to-date losses to 27%, with SaaS indices down nearly 40%.
- Major software stocks like ServiceNow, Palantir, and Workday saw declines between 5% and 8%.
- The launch of Anthropic's Claude Managed Agents and Meta's new AI model are driving sector concerns.
- Software sector valuations have dropped to 20.6 times earnings, well below the ten-year average of 34.

**Companies:** Salesforce, Adobe, Oracle Corp, Palantir, Workday
**Countries:** United States, Iran

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