Anthropic's AI Launch Triggers Global Tech Sell-Off, Indian IT Shares Plummet

• AI company Anthropic launched 11 new plug-ins for its Claude Cowork agent, an AI assistant automating tasks like legal, sales, and data analysis.
• The legal agent's ability to perform document review, compliance checks, and legal drafts directly integrates with existing systems, bypassing traditional platforms.
• This development sparked fears among investors that AI would directly impact the core business of tech and IT companies, leading to a rapid sell-off.
• US and European tech shares saw sharp declines, with LegalZoom down 20%, Thomson Reuters 15.5%, Salesforce 6.8%, and ServiceNow 7%.
• Indian IT companies were also affected: Infosys ADR fell 5.5%, Wipro 4.8%, Accenture 9.5%, and Cognizant 10%, signaling a 'SaaSpocalypse' threat.

Why It Matters: Anthropic's new AI tools caused a global tech sell-off, raising concerns about AI's impact on traditional software and IT services.