Accenture's stock suffered its steepest single-day decline in nearly nine years, tumbling roughly 18% to hit a bottom not seen since 2017.
The rout in the global IT consulting and services firm highlights a sharp reversal in sentiment toward the technology sector, as investors begin to question the immediate financial returns on massive artificial-intelligence expenditures.
The sell-off in Accenture's shares dragged down broader software and technology benchmarks, capping a volatile session for the sector.
The move marks a stark contrast to the robust performance seen just weeks ago, when software stocks recorded their strongest monthly gains in over two decades.
That earlier rally, fueled by strong earnings from peers like Snowflake and Okta, has now been abruptly interrupted by a fresh wave of caution regarding capital-intensive tech projects.
The decline comes as the market grapples with the reality of high interest rates and the heavy upfront costs associated with building AI infrastructure.