Tech Stocks Crash: Nifty IT Index Hits Seven-Month Low

The Nifty IT index has fallen by more than 2%, reaching a seven-month low. This decline is driven by growing concerns about a potential recession in the US, which has negatively impacted tech stocks. Infosys emerged as the biggest loser among the IT stocks.

Several factors contribute to this downturn, including fears of a global economic slowdown and its effects on technology companies’ revenues and profits. Investors are increasingly cautious, leading to significant sell-offs in the tech sector. This trend reflects broader market sentiment, with many investors seeking safer investments amidst economic uncertainty.

Despite this setback, some analysts remain hopeful that the tech sector will rebound, citing strong fundamentals and growth potential in the long term. However, the immediate future for IT stocks appears uncertain as market volatility persists.