Explained: How IBM’s 13% plunge on Anthropic’s COBOL disruption fears sparked bloodbath in TCS, Infosys, Wipro & other IT stocks
Shares of major information technology companies came under pressure on February 24, falling as much as 8%, after a sharp decline in IBM on Wall Street unsettled investors. The stock tumbled 13%, its worst single-day fall in 25 years, after AI startup Anthropic said that its Claude tool can help streamline COBOL code. COBOL, short…