Datadog shares plummeted 19.03% despite an earnings beat, leading a broad sell-off in software stocks that dragged the Nasdaq Composite 0.06% lower to 26,348. The Dow Jones Industrial Average fell 0.85% to 53,885 and the S&P 500 slipped 0.18% to 7,710 as technology sector guidance weighed on markets. Duolingo sank 9.41% on a disappointing revenue outlook, while Honeywell Aerospace retreated 23.16% on disappointing quarterly results. Conversely, Arm bucked the trend with a 4.41% gain. Oil prices rose amid escalating tensions in Yemen and uncertainty over the Strait of Hormuz, reigniting inflation concerns ahead of tomorrow’s employment report.
