Indian tech stocks slump as Anthropic's AI tool raises global staffing concerns
Feb 4 (Reuters) - Shares of Indian IT exporters .NIFTYIT slumped 6% on Wednesday, tracking losses in global software stocks, after AI developer Anthropic launched new tools that heightened concerns over AI-driven disruption in the data and professional services industry.
Anthropic launched plug-ins for its Claude Cowork agent on Friday that would automate tasks across legal, sales, marketing and data analysis, triggering a significant selloff among U.S. and European data analytics, professional services and software companies.
The Indian IT sub-index joined the rout on Wednesday and was set for its worst day since May 2022. All 10 of its constituents were in losses, led by a 7% drop in software services exporter Persistent Systems PERS.NS.
Heavyweights TCS TCS.NS and Infosys INFY.NS were down 5.2% and 5.8%, respectively, while Wipro WIPR.NS fell nearly 4%.
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