IBM stock craters 25%, the worst day on record, after company issues second-quarter earnings warning

International Business Machines experienced a severe stock decline on Tuesday, with shares dropping 25% after the company released preliminary second-quarter results that fell short of market forecasts. The decline represented the worst trading day in the company’s history since records began tracking activity in 1968, surpassing the previous record set on October 19, 1987, when shares fell 23.7%.
The company reported adjusted earnings of $2.93 per share on revenue of $17.2 billion, both