Anthropic AI shock sends IT stocks to worst day since March 2020
The Economic Times·2026-02-04 07:36
The rout was triggered by an overnight meltdown in US software stocks after American AI startup Anthropic unveiled 11 new plugins designed to automate a wide range of professional tasks, reigniting fears that artificial intelligence could undermine both the profitability and competitive moats of traditional IT firms.Over the past 15 years, the worst single-day crash in the Nifty IT index was recorded on April 12, 2013, when it plunged a staggering 12%, according to ACE Equity data. The closest comparable s ...