CrowdStrike Plunges 9.9% as Tech-Software ETF IGV Sinks 5%
CrowdStrike shares plunged 9.9% Monday, ranking among the Russell 1000’s five biggest decliners as private credit liquidation fears sent the tech-software IGV ETF down 5% to its lowest since August 2024. The Nasdaq 100 slid 1.3% while the S&P 500 lost 1.0% on broad risk-off sentiment.
1. Market Sell-Off Hits Tech Stocks
US equity markets slumped Monday with the Nasdaq 100 falling 1.3% and the S&P 500 down 1.0% as risk sentiment deteriorated on rising trade and credit uncertainties. The iShares Expanded Tech-Software ETF (IGV) plunged 5%, hitting its lowest level since August 2024.
2. CrowdStrike Among Largest Decliners
CrowdStrike shares fell 9.9%, placing it among the five biggest Russell 1000 losers, as investors retreated from high-growth software names. The stock’s decline contributed to momentum in the broader tech downturn despite no company-specific announcements.
3. Private Credit Liquidation Spurs Risk Aversion
A $1.4 billion asset liquidation by a major private credit fund stoked concerns over liquidity in alternative credit markets. That move prompted widespread selling across asset managers and financials, amplifying the sell-off in technology shares.