IT stocks fall today: Infosys, TCS, HCL plunge sharply — what triggered the sell-off?

IT stocks experienced a sharp decline as Anthropic’s Claude Code tool showed potential to modernize legacy COBOL systems. This development triggered concerns about AI’s impact on traditional IT services, with major players seeing significant drops in their share prices. The news highlights a growing unease about AI fundamentally reshaping the industry’s competitive landscape and business models.