IBM Shares Drop Sharply After Earnings Outlook Miss

International Business Machines (IBM) saw its shares decline approximately 18% following a warning about its recent quarterly performance. The technology company indicated that a number of significant deals did not close within their anticipated timelines, contributing to the disappointing outlook.

Additionally, IBM cited shifts in supply chains as a factor impacting its results. These combined issues led to a forecast that fell short of market expectations, prompting a significant sell-off in the company's stock.