Software stocks were hammered after IBM pre-announced weaker-than-expected Q2 financial results. Shares in IT services firms also fell.

Shares of IBM are sliding before the market open on Tuesday as the company provided preliminary second-quarter results that are below Wall Street’s expectations.

July 14 : IBM sparked a market rout on Tuesday after forecasting second-quarter revenue below estimates and signaling that businesses were favoring spending on data-center…

IBM shares tumbled sharply in premarket trade after the company flagged weaker-than-expected second-quarter results, missing both profit and revenue estimates. Management…