Indian IT stocks experience massive selloff as AI disruption fears grip markets. Infosys, TCS, HCL Technologies, Wipro, and Coforge saw sharp declines of over 5%, with the Nifty IT index plummeting 4.72%. Market experts warn of significant impact from potential AI-driven business model transformations. The sell-off follows similar trends in US tech markets, where Nasdaq tumbled 2.03% amid investor reassessment of AI's potential disruption to established tech companies. Approximately 2.80 lakh crore in market capitalization was erased, signaling deep investor concerns about the technology sector's future. Analysts suggest this decline reflects growing uncertainty about how traditional IT services will adapt to rapid AI technological advancements and potential market restructuring. The sharp correction indicates a potential revaluation of IT sector stocks in light of emerging artificial...
