**IBM Stock Plummets 24.9% Amid Hardware Shift**
IBM shares dropped 24.9% on Tuesday, erasing 429 Dow points after CEO Arvind Krishna revealed a miscalculation in corporate spending priorities, with customers favoring hardware over software. This marked IBM’s worst day since the 1987 crash. In contrast, Goldman Sachs surged 7.4%, contributing 459 points to the Dow after exceeding second-quarter earnings estimates.
**Market Reactions and Broader Impacts**
The Nasdaq Composite rose 0.9% as semiconductor stocks rallied, driven by a significant 18.5% jump in SK Hynix shares, recovering from an earlier decline. Concurrently, oil prices increased by 2.0% amid ongoing U.S. military strikes against Iran. The June Consumer Price Index saw a 3.5% year-over-year increase, slightly below expectations.
**Key Figures**
– IBM: -24.9% (lost 429 Dow points)
– Goldman Sachs: +7.4% (added 459 Dow points)
– Nasdaq Composite: +0.9%
– SK Hynix: +18.5%
– Oil prices: +2.0%
– June CPI: +3.5% year-over-year
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