Infosys, Wipro ADRs slide over AI fears; US tech wobbles amid spending concerns

• Infosys and Wipro ADRs fell over 4% and 3.35% respectively due to AI disruption fears in outsourcing.
• The decline reflects a broader global tech rout as investors reassess demand for legacy software services.
• AI automation tools raise concerns that enterprises may shift spending from traditional outsourcing.
• Global peers like Accenture and Cognizant also dropped, while US tech giants Apple, Amazon, and Cisco saw declines.
• Siemens AG surged 7.1% after raising its earnings outlook, citing faster-than-anticipated AI gains in industrial sectors.