Cloud computing stocks rebounded — but Amazon’s $200 billion spending plan keeps traders on edge

Intuit shares dropped 10.9% to $434.09 in after-hours trading, following an 11% slide during regular session. Salesforce, Datadog, and Adobe each lost roughly 7%, while Synopsys and Atlassian declined about 8%. The S&P 500 software and services index tumbled 3.8%. “We’re seeing a lot of software companies across the spectrum get hit,” noted Art Hogan, chief market strategist at B. Riley Wealth. John Campbell of Allspring Global Investments added that parts of the market were “priced for perfection.”