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 (Bloomberg) -- Dire earnings results at SAP SE wiped out more than 35 billion euros ($41 billion) from the German software company's market value in a matter of minutes, sending a warning to tech investors about the health of the business software industry.In a surprise release late Sunday, SAP, one of Europe's largest tech companies, cut its revenue forecast for the full year and said it expected the fresh wave of Covid-19 lockdowns to hurt demand through the first half of 2021. The results caused shares to fall the most ever in a single day, according to data compiled by Bloomberg since 1989.SAP's collapse caused the wider tech market to drop, with Europe's Stoxx Technology index falling 7.6%, its biggest one-day loss since March. Shares of cloud-applications giant Salesforce.com Inc. fell 4.1% at 2:28 p.m. in New York. Oracle Corp. -- SAP's main rival -- dropped 3.9%."SAP is a bellwether stock for European technology and global software," said Citigroup Global Markets analyst Amit Harchandani. "They have an insight into Fortune 500 companies and when SAP tells you they see headwinds, there will be some truth to the fact that some of the customers are challenged and don't have the money to spend."For some investors, SAP's results have called into question the wider assumption that software companies will prosper during the pandemic, due to millions of employees working from home. Many of these companies, which deliver applications or services over the internet, have so far resisted the worst effects of a pandemi
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Trump and Biden wage unexpected duel in Georgia Yahoo NewsEnablement New York Magazine‘It's daunting': Democrats crushing House Republicans on the airwaves POLITICOThis chart shows why Trump is *so* dangerous to the GOP CNN
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Fact check: At Pennsylvania rally, Trump makes four false claims about voting in the state CNNTrump, Biden Campaign In Battleground Pennsylvania As Election Day Nears | NBC Nightly News NBC NewsRoad to 270: Biden leading in these battleground states CNNTrump is cruising for a bruising | TheHill The HillThe New York Post endorses President Donald J. Trump for re-election New York Post
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