4 reasons why Nifty IT, tech stocks are tanking today
The tech industry is experiencing a decline in stocks due to concerns about AI. IBM's 13% drop raises alarms about newer AI tools, including those from Anthropic. Jefferies downgrades six Indian IT firms due to structural shifts caused by AI. US-listed targets for Infosys and TCS are reduced by 31%, while HCLTech and Wipro also face downgrades.