Antropic AI Wipped out $285 Billion, credit: X
The Indian stock market has experienced a major decline in IT sector following the downward trend observed in United States. The sudden fall in the stock charts major happened due to a development in Artificial Intelligence that made investors uncertain and nervous regarding the future of traditional software jobs in the market.
The Nifty IT index, which tracks the largest tech company in the nation, fell by 5.9%. This is one of the biggest one-day drops the industry has experienced in a year. The key names that effected during this decline consists of Persistent System and LTIMindtree which fell by over 7.5 per cent, Infosys stocks have dropped by almost 7.16 per cent and Wipro and TCS fell by more than 6 per cent.
The down trend was also observed on Wall Street charts droping points on Nasdaq
The entire thing begins when an AI startup called Anthropic releases a new AI plugin which is developed to help law professionals in handling internal paperwork and legal tasks automatically. This may sound interesting to some tech and law enthusiast by it has worried the investors.
The key thing that is disturbing the investors that if AI can perform the complex professional tasks so the businesses might be stop hiring traditional IT and software companies to develop custom solutions and if this turns out as reality it could hurt the profit of major Indian IT companies whose major business comes from global clients. The ‘AI scare’ started in the United States on 3rd February 2026 which also impacted the Nasdaq and turned out a disaster on charts and impacted the Indian market too. This entire thing has resulted in a wiped out of $285 billion.
The rise of AI is creating panic and resulting out as “selling” in the market for Indian companies which mainly rely on factors like company budgets, visa rules, and US trends can experience decline in business for now. The experts are reacting to the feat that AI might change the workforce game faster than it was expected.
Syed Ziyauddin is a media and international relations enthusiast with a strong academic and professional foundation. He holds a Bachelor’s degree in Mass Media from Jamia Millia Islamia and a Master’s in International Relations (West Asia) from the same institution.
He has work with organizations like ANN Media, TV9 Bharatvarsh, NDTV and Centre for Discourse, Fusion, and Analysis (CDFA) his core interest includes Tech, Auto and global affairs.
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