Shares of artificial intelligence (AI) and cybersecurity enterprise software names C3.ai (NYSE: AI), Cloudflare (NYSE: NET), and (NASDAQ: ZS) fell on Thursday, down as much as 9.8%, 5.3%, and 5.8%, before recovering to mere 2%, 3%, and 4.1% losses, respectively, as of 1:53 p.m. ET.

It was generally a poor day for technology stocks, and especially high-growth software names that tend to trade at higher valuations and which had already logged strong year-to-date gains.

The sell-off across AI, cybersecurity, semiconductor, and software names was likely due not to company-specific news, but rather macroeconomic data and recent public statements from Federal Reserve officials.

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Source Fool.com