Anthropic's new AI tools deepen selloff in software stocks

New Delhi: A significant selloff among US and European data analytics, professional services and software companies deepened on Tuesday, with some investors pointing to a recently ‌updated artificial intelligence chatbot by Anthropic as the main culprit.

AI developer Anthropic launched plug-ins for its Claude Cowork agent that would automate tasks across legal, sales, marketing and data analysis.

That move has sparked worries of an impending AI-fuelled disruption of the data and professional services industry, which were once seen as major beneficiaries of the AI era, according to traders and analysts.

Toronto-based Thomson Reuters, which owns the Westlaw legal database, slumped by nearly 18%. It is on track for its biggest daily loss on record and lowest close since June 2021.