周五的下跌范围广且幅度大：CrowdStrike 跌 8.0%，Cloudflare 跌 8.1%，Zscaler 跌 5.5%，SailPoint 跌 9.4%，Okta 跌 9.2%。Global X Cybersecurity ETF（BUG）下跌 4.9%，收在自 2023年11月 以来最低水位。Anthropic 表示其新功能可扫描程式码库中的漏洞并提出可供人工审查的定向修补方案，且目前仅限研究预览。这一压力符合更广泛趋势，iShares Expanded Tech-Software Sector ETF（IGV）年初至今下跌超过 23%，使其有望创下自 2008年 以来最大季度百分比跌幅。
市场参与者将这一走势视为由头条消息驱动，但也与软体板块持续的 risk-off 模式一致；Dennis Dick 形容其具有 mini flash crash 的动态，并强调任何扰动讯号出现后都会有持续的下行动能。核心担忧在于，AI-assisted coding 与所谓 vibe coding 可能降低对 legacy applications 的需求，削弱成长、利润率与定价能力。同时，Jefferies 分析师 Joseph Gallo 认为网路安全长期可能是 AI 的净受益者，但也警告随著 Anthropic、OpenAI 与 Alphabet 推出更多产品并竞逐新增的网路安全预算，短期的头条逆风可能加剧。
On February 21, 2026 at 5:22 AM GMT+8, Bloomberg reported that cybersecurity software stocks sold off after Anthropic PBC introduced a new Claude security capability, deepening an ongoing repricing of software equities tied to AI disruption fears. The move came in a market already under pressure, where investors have increasingly questioned whether AI-native platforms will take share from incumbent software vendors across enterprise workflows.
Friday’s decline was broad and sharp: CrowdStrike fell 8.0%, Cloudflare dropped 8.1%, Zscaler lost 5.5%, SailPoint slid 9.4%, and Okta declined 9.2%. The Global X Cybersecurity ETF (BUG) fell 4.9% and closed at its lowest level since November 2023. Anthropic said its new feature scans codebases for vulnerabilities and proposes targeted patches for human review, and that availability is currently limited to a research preview. The pressure fits a wider trend, with the iShares Expanded Tech-Software Sector ETF (IGV) down more than 23% year-to-date, putting it on pace for its largest quarterly percentage drop since 2008.
Market participants framed the move as headline-driven but consistent with a sustained risk-off pattern in software, with Dennis Dick describing a mini flash crash dynamic and emphasizing persistent downside momentum after any disruption signal. A central concern is that AI-assisted coding and so-called vibe coding could reduce demand for legacy applications, weakening growth, margins, and pricing power. At the same time, Jefferies analyst Joseph Gallo argued cybersecurity could be a net long-term AI beneficiary, while cautioning that near-term headline headwinds may intensify as Anthropic, OpenAI, and Alphabet launch additional products and compete for incremental cybersecurity budget dollars.