Shares of Appian Corp. (NASDAQ: APPN) fell today as investors sold off stocks across most industries, including tech stocks.
Appian's share price fell by as much as 10.4% today and ended the trading day down by 9.5%.
The market reacted negatively to news that coronavirus cases were surging in the U.S. and around the world. The U.S. reported more than 60,000 coronavirus cases on Sunday, and new COVID-19 restrictions have been put in place across France, Italy, and other parts of Europe as cases rise. The rise in cases has investors skittish today, and as a result, the S&P 500 dropped by 2%.
Source Fool.com