Back to News
Apr 9, 2026 4:00 PM

SaaS Stock Meltdown: ServiceNow, Salesforce, Cloudflare, Snowflake Hit Hard

SaaS and AI‑adjacent software names were back in the crosshairs Thursday, with Salesforce Inc. (NYSE:CRM), Cloudflare Inc. (NYSE:NET), Snowflake Inc. (NYSE:SNOW), Microsoft Corp. (NASDAQ:MSFT), Zscaler Inc. (NASDAQ:ZS) and ServiceNow Inc. (NYSE:NOW) all trading sharply lower as investors bailed out of high‑multiple cloud plays. 

CRM stock is moving. See the chart and price action here. 

SaaSpocalypse Now

The move followed fresh model releases from Anthropic and Meta Platforms, Inc. (NASDAQ:META) that reignited fears large‑language‑model agents will displace traditional enterprise software workflows. 

Thursday's moves extended a sell‑off that has already erased hundreds ...