ServiceNow Inc is trading 4.5% down at $96.80 as investors sell technology shares following a hawkish Federal Reserve stance indicating no rate cuts for the rest of 2026.
- The move extends recent weakness in large-cap software as higher-for-longer rates weigh on growth and high-valuation tech names.
- Broader market pressure is evident across the sector, with the S&P 500 and Nasdaq both down nearly 1% in response to the Fed's outlook.