US EditionFTSE 100 down as AI worries knock data providers
Anthropic's legal AI plugin caused European software and data stocks to drop up to 17%, signaling investor concerns over AI disrupting traditional business models.
- On Feb 3, the FTSE 100 index closed down 26.97 points, or 0.3%, at 10,314.59 as a broad sell-off in software and data stocks deepened after traders cited an updated Claude plugin from Anthropic, AI developer.
- Anthropic, AI developer, released legal automation features on Jan 30 for its Claude Cowork tool, automating contract review and NDA triage, heightening investor jitters according to analysts.
- Data and legal providers including Relx and Thomson Reuters plunged as Relx slid 14% and Thomson Reuters slumped nearly 18%, dragging others lower.
- The FTSE 250 ended down 135.68 points, or 0.6%, at 23,290.37, with miners like Anglo American up 7.3% ahead of Feb 5 results, amid AI worries.
- A Barclays survey published on Monday ranked WPP, Omnicom and Publicis as top "AI losers" while Publicis earmarked 900 million euros for 2026 AI acquisitions amid rising startup competition including Legora at a $1.8 billion valuation.
22 Articles
22 Articles
Software stock slide worsens on AI fears
US software stocks sank further Tuesday on swelling investor fears that new AI tools will eat their lunch.The selloff came after AI startup Anthropic unveiled new tools that can automate legal, sales, and marketing tasks — potentially disrupting fields that were once seen as beneficiaries of the AI boom. Some of the hardest-hit companies were those with large analytics businesses, like Thomson Reuters, which owns a legal database.Even stocks of …
‘Get Me Out’: Traders Dump Software Stocks as AI Fears Take Hold
Wall Street has been skeptical about software stocks for a while, but sentiment has gone from bearish to doomsday lately with traders dumping shares of companies across the industry as fears about the destruction to be wrought by artificial intelligence pile up.
Times of India
The Economic TimesWhat is Anthropic’s new legal AI tool and why investors are dumping software stocks
Anthropic new AI tool: Explore Anthropic's new AI tool designed for the legal industry, its implications on software stocks, and the rising competition in legal AI.
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