IBM gets ₹58,000 crore wiped off from valuation in a day

Technology giant IBM lost over $9 billion (over ₹58,000 crore) in market capitalisation on Wednesday during intraday trade. IBM, which reported a fall in its revenue for the 20th consecutive quarter, saw shares slide by over 5%. Following this, billionaire Warren Buffett's Berkshire Hathaway holding company, which has stake in IBM, also lost around $770 million (₹4,900 crore) on Wednesday.