A similar sector-wide pressure was visible in global peers too with Accenture and Cognizant dropping between 4% and 10. US technology heavyweights were mixed.
Apple Inc. and Amazon.com Inc. were lower between 3 and 4%, while Cisco Systems slumped nearly 11% after issuing disappointing quarterly guidance.In contrast, industrial major Siemens AG surged 7.1% after raising its fiscal 2026 basic earnings per share outlook to €10.7–€11, up from an earlier €10.4–€11 range.
Chief Executive Roland Busch told CNBC that AI-driven gains in industrial manufacturing, product design and operations could materialise faster than anticipated, underscoring optimism around real-world AI deployment.
Broader US indices, however, traded with modest gains. The Dow Jones Industrial Average advanced about 230 points, or 0.5%, as investors rotated into economically sensitive stocks. The S&P 500 rose 0.2%, while the Nasdaq Composite slipped around 0.2%.
Softer US retail data and lingering uncertainty around labour market trends have further clouded the outlook for enterprise technology spending, keeping pressure on IT services counters.
