Indian tech stocks slump as Anthropic's AI tool raises global staffing concerns

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Feb 4 : Shares of Indian IT exporters slumped 6 per cent 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 per cent drop in  software services exporter Persistent Systems.  

Heavyweights TCS and Infosys were down 5.2 per cent and 5.8 per cent, respectively, while Wipro fell nearly 4 per cent.

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