Wall Street’s “SaaSpocalypse” Shook Global Tech—And Indian IT Stocks Felt the Ripples
A wave of AI-driven fear crushed global software stocks in the so-called SaaSpocalypse. Here’s how the panic spilled over to Indian IT giants like TCS, Infosys, and Wipro. When AI Fear Took Over Wall Street Global technology markets experienced a rare moment of collective panic as traders began dumping software stocks en masse. What started as unease quickly turned into a full-blown selloff as fears grew that artificial intelligence could dismantle traditional software and IT business models. The chaos became known as the “SaaSpocalypse.” Investors were no longer focused on earnings beats or near-term guidance. Instead, one question dominated markets: Would AI make large parts of the software industry obsolete? Even companies with strong fundamentals saw their stock prices fall sharply, as traders rushed to exit before long-term damage could be priced in. Why This Panic Spread Beyond Software Companies The fear did not stop with US software firms. As enterprises explored AI-driven...