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Fortinet isn’t having a good day. And the information-technology giant is pulling other stocks down alongside its own.
Shares in the cybersecurity company plunged 24%, making it easily the worst-performing stock in the S&P 500, according to Dow Jones Market Data. The decline wiped out much of its share-price gains this year and weighed on the index’s IT sector.
Investors fled hardware and software developer Fortinet (market cap: $45 billion) after executives said many businesses delayed orders due to uncertainty about the U.S. economy.
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