IBM shares collapsed 25.2% on Tuesday, wiping out more than $65 billion (£48.5 billion) in market value in the technology giant's worst trading day on record, after customers pulled spending from software and mainframes to buy AI hardware first.
The stock closed at $217.07 (£162), sinking further than the 23.7% plunge it suffered on Black Monday in October 1987, its previous worst day since records began in 1968. The rout followed IBM's rare decision to pre-announce second quarter results that fell well short of Wall Street forecasts.
