Stock Track | IBM Plummets 5.01% Intraday Amid Profit-Taking, Quantum Sector Sell-Off and Macro Headwinds

Stock Track06-05 23:25

IBM's stock fell sharply by 5.01% during intraday trading on Friday, reflecting significant selling pressure.

The decline is attributed to continued profit-taking by investors following a substantial rally of approximately 40% since May. The sell-off was exacerbated by a broad downturn in quantum computing concept stocks.

Broader macroeconomic headwinds also contributed to the weakness, including rising oil prices driven by geopolitical tensions, climbing US Treasury yields, and a strong employment report that dampened expectations for near-term interest rate cuts, leading to a retreat in overall market risk appetite.

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