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Why Cloud Stocks Twilio, HubSpot, and C3.ai All Fell Today

TheMotleyFool

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Why Cloud Stocks Twilio, HubSpot, and C3.ai All Fell Today: https://g.foolcdn.com/editorial/images/714089/cloud-computing-data-storage.jpg

Cloud software stocks were among the victims of today's sell-off. A weak report by chipmaker Micron and stronger-than-expected economic data had investors simultaneously anticipating a slowdown in the tech sector and extended rate hikes from the Fed into next year to cool off the economy.

Twilio (NYSE: TWLO), HubSpot (NYSE: HUBS), and C3.ai (NYSE: AI) were all losers on the news. The three tech stocks have struggled and could use some help from the macroeconomic environment to turn around their performance.

Twilio stock closed down 4.1%, while HubSpot lost 3.9% and C3.ai fell 6.4%. Meanwhile, the Nasdaq finished the day down 2.2%.

Source Fool.com

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