Caroline Hepker

The latest release has supercharged disruption fears that have been simmering across the software industry for months.

Jefferies, equities trader Jeffery for Vooza,

described the $285 billion route as an apocalypse for software-as-a-service stocks.

He added that trading is very much get-me-out style selling.

Here's the view of Mandeep Singh, Bloomberg Intelligence's Senior Global Head of Technology Research.

Mandeep Singh speaking there.

Our software stocks slid from India to Japan following similar declines across the US and European peers.

Now, when it comes to Novonordisk, the company has warned of a steep decline in sales of its drugs in a move that shocked investors.

The company said that it expects sales will fall by as much as 13% due to lower prices for its blockbuster weight loss medicines, driven by a US government push to bring down drug costs.

Novo's American depository receipts fell by 15% on Tuesday, their biggest decline since July.

Novo Nordisk CEO Mike Duster spoke to Bloomberg after the announcement.

Novo Nordisk CEO Mike Dusser speaking there, as the company also announced that it will start a new share buyback worth as much as $2.4 billion.

Meanwhile, Santander has announced a €5 billion share buyback this morning after confirming it has agreed to buy Webster Financial for €12 billion.

The deal will give Santander a major presence in the northeast of America.

It is one of the largest ever US transactions by a European lender.

Spain's biggest lender reported better than expected fourth quarter net income coming in at €3.76 billion.

Now, the European Union is preparing to pitch a critical minerals partnership to the United States to curb the influence of China.

Bloomberg understands that the Memorandum of Understanding will look at several ways to cut dependency through joint projects and export restrictions.

Bloomberg's Freddie Fulston has more.

And those are our top stories for you this morning.