AI Panic Wipes Out ₹2 Lakh Crore from Indian IT Sector in Hours

• Indian IT companies lost ₹2 lakh crore in market value due to investor fears over Artificial Intelligence (AI).
• The downturn was triggered by Anthropic AI's new office automation tool, raising concerns about AI replacing human tasks.
• TCS, Infosys, and HCL Tech suffered significant market cap declines of ₹70,000 crore, ₹54,000 crore, and ₹26,000 crore respectively.
• The IT sector experienced its biggest fear since the 2008 recession, with a 15% decline in January alone.
• Hardware and chip manufacturers are benefiting from AI, while software and service-oriented IT companies face an existential crisis.