JPMorgan says the recent global IT selloff amid AI disruption fears has veered from rational concern to outright panic. Analyst Mark Murphy noted that markets are “overwhelmingly” focused on AI headlines, ignoring enterprise software resilience. The IGV tech-software ETF fell about 5%, while stocks once considered insulated—Cloudflare, Datadog, Snowflake—plunged 9-11%, showing broad market impact across mega- and small-caps.
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