In a significant development, International Business Machines $IBM revealed that 15 of its government contracts have been suspended under the Trump administration's cost-reduction initiative. This set-back exceeded optimistic revenue forecasts, leading to a more than 6% decline in IBM’s stock price after market close. Notably, federal consulting firms such as Accenture $ACN have similarly felt the repercussions of these spending cuts initiated by both the US administration and the Department of Management Efficiency.