Infosys, TCS, Wipro, other IT stocks fall up to 3% after Fed's hawkish tone. What's ahead?
Indian IT stocks, including Infosys and TCS, experienced a significant decline of up to 3% on Thursday. This downturn was triggered by a hawkish stance from the US Federal Reserve, which has increased expectations of a rate hike later this year. Concerns over reduced discretionary spending in North America, a key market for these companies, are driving the sell-off.
Indian IT stocks, including Infosys and TCS, experienced a significant decline of up to 3% on Thursday. This downturn was triggered by a hawkish stance from the US Federal Reserve, which has increased expectations of a rate hike later this year. Concerns over reduced discretionary spending in North America, a key market for these companies, are driving the sell-off.
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