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Fortinet didn’t have a good day. And the information-technology giant pulled other stocks down alongside its own.
Shares in the cybersecurity company plunged 25%, 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 after executives said many businesses delayed orders due to uncertainty about the U.S. economy.
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