JPMorgan’s Rohrbaugh Says Stock Market’s in ‘Sell First’ Mode

JPMorgan Chase & Co.’s Troy Rohrbaugh, co-head of the firm’s commercial and investment banking business, warned that the software selloff is likely to continue.

“Some of what’s happening in software isn’t completely rational in our view, but that doesn’t mean it won’t continue,” Rohrbaugh said Monday at JPMorgan’s global leveraged-finance conference in Miami. “People are in a sell first, figure it out later mode, and I think that’s going to last for a little while.”

Technology stocks have been hit by the so-called “AI scare trade,” as announcements from startups have spurred concerns about the industry’s vulnerability to ...