Why CrowdStrike Stock Sank Today

CrowdStrike (NASDAQ: CRWD) stock saw a significant pullback Friday. The cybersecurity company's share price closed out the session down 6.8% in a day of trading that saw the S&P 500 index fall 1.8% and the Nasdaq Composite index fall 2.2%.CrowdStrike's valuation retreated today in conjunction with a series of indicators that raised concerns about the state of the U.S. economy. The company's share price also took a hit following a Bloomberg report stating that the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) were looking into its deal with Carahsoft.Growth stocks got hit hard today amid a new round of bearish macroeconomic data. Existing home sales for January dipped to 4.08 million units, and the University of Michigan's Consumer Sentiment index score declined to 64.7% in the month -- marking a 10% sequential decline. The weakening of consumer sentiment stemmed from concerns about the outlook on inflation and tariffs.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool