Infosys, Wipro, other IT stocks in focus as US-listed ADRs tumble up to 5%

Indian IT stocks Wipro and Infosys saw their ADRs tumble on Wall Street due to rising investor fears about AI-driven disruptions. A new AI tool for legal functions by Anthropic has intensified concerns about competition and margin pressure, leading to a rapid shift in market sentiment towards potential AI replacement of IT services.