Overview
- Sector losses broadened into a second day across the United States, Europe and Asia, with software, data and advertising names falling and two State Street SPDR funds erasing about $300.6 billion in market value.
- Legal-data and analytics providers led declines after Tuesday’s double-digit drops, with RELX, Wolters Kluwer and London Stock Exchange Group falling further on Wednesday as traders cited AI-driven legal automation as a catalyst.
- Indian IT exporters slumped as the rout spread, with the Nifty IT index down roughly 5.8%–5.9% and steep intraday losses for TCS (about 7%), Infosys (about 7%), HCLTech (about 4%–5%) and Wipro (about 4%).
- Anthropic recently added 11 plug-ins to its Claude Cowork agent to automate tasks across legal, sales, marketing and data analysis, including reviewing contracts and NDAs, tracking compliance, drafting briefs and building financial models.
- Anthropic said the legal tool is not a substitute for licensed counsel and that AI outputs should be attorney-reviewed, as analysts debate whether the selloff reflects enduring disruption risk or an overreaction against a backdrop of bubble warnings.