After three straight rebound sessions, the software selloff resumed Wednesday, with the iShares Tech-Expanded Software Sector ETF (NYSE:IGV) sliding more than 3%.

Out of more than 100 constituents in the fund, only five managed to avoid losses. Among large-cap names, Palantir Technologies Inc. (NYSE:PLTR) fell 3.7%, while Salesforce Inc. (NYSE:CRM), Intuit Inc. (NASDAQ:INTU) and ServiceNow Inc. (NYSE:NOW) each dropped around 5%.

• iShares Expanded Tech-Software Sector ETF stock is under selling pressure. Why is IGV stock trading lower?

Elsewhere, major U.S. equity indexes posted timid gains amid conflicting signals from the labor market.

On the surface, the January jobs report appeared strong. Nonfarm payrolls rose by 130,000, nearly double economists' expectations of 70,000, with private-sector employment accounting for 172,000 of those gains. The unemployment rate also unexpectedly declined to 4.3% from 4.4%.

Beneath the headline strength, however, the report was overshadowed by sweeping downward revisions. Total U.S. job growth for 2025 was slashed to just 181,000, equivalent to roughly 15,000 jobs per month, ...