Snowflake stock slides nearly 8% in software rout; traders brace for next catalyst
New York, Jan 29, 2026, 21:20 (ET) — The market has closed. Shares of Snowflake Inc fell 7.7% to close at $199.37 on Thursday, dipping as low as $196.82 during the session. The stock had finished Wednesday at $216.00. Software stocks took a hit as investors weighed whether rapid advances in AI might disrupt traditional software models, particularly subscription-based SaaS.…