AI Jitters Hit Global IT: Cognizant, Wipro ADRs Tumble; Indian Stocks Next?

• Technology shares on Wall Street fell due to AI disruption fears and dimming hopes of early US interest rate cuts.
• Global IT firms like EPAM Systems, Globant, Cognizant, and Accenture posted losses; Wipro ADRs also declined.
• Indian IT majors like Infosys, TCS, Wipro, and HCL Technologies are expected to face pressure.
• Anthropic's Claude Cowork AI tool intensified concerns over traditional software services demand, extending the tech selloff.
• Experts warn AI could lead to structural shifts in Indian IT, impacting headcount, deal wins, and revenue growth.