Intuit stock falls 12% as TurboTax loses customers over price

Intuit stock plummeted 12% following reports that TurboTax is losing customers due to pricing issues. Market anxiety has intensified as fears of AI disruption spread from TurboTax to QuickBooks, impacting investor confidence. This downward trend extended to other technology firms, with Adobe and ServiceNow both experiencing a 3% drop in share value. The decline reflects broader concerns regarding the stability of traditional software models in the face of emerging artificial intelligence technologies and competitive pricing pressures.