Infosys, TCS, Wipro, Other IT Stocks Fall Up To 3% After Fed's Hawkish Tone. What's Ahead?

IT Stocks Take a Hit Following Fed's Hawkish Stance

On Thursday, major Indian IT stocks, notably Infosys and TCS, faced a notable drop of up to 3%. This slump comes in the wake of a hawkish signal from the US Federal Reserve, which has raised the possibility of an interest rate hike later this year. Investors are reacting to fears of diminished discretionary spending in North America, a crucial market for these tech giants, prompting a wave of sell-offs.