Nasdaq Tumbles Over 200 Points As Software Stocks Plunge: Investor Sentiment Declines, But Fear Index Remains In 'Greed' Zone

The Nasdaq tumbled over 200 points (down about 0.89% to 24,438.50) as a sharp selloff in software and tech names triggered a defensive rotation. Higher oil prices and renewed U.S.-Iran tensions pushed risk-off flows, weighing on growth-sensitive stocks even as S&P Global flash PMIs improved. The S&P 500 slipped 0.41% to 7,108.40 and the Dow fell roughly 180 points to 49,310.32. Earnings amplified the move: ServiceNow plunged about 18% and IBM fell roughly 8% after results, while United Rentals surged ~23% after beating estimates and raising FY26 sales guidance. Despite the pullback, the CNN Fear & Greed Index remained in the “Greed” zone at 66.3. Overall, the market showed a short-term risk-off bias led by tech, with pockets of strength in industrials and utilities.