The Economic Times

Infosys ADRs tumble 5%, Wipro slips over 3% as Wall Street rattled by inflation data and AI fears

Infosys and Wipro ADRs tumbled on the NYSE amid AI-driven fears and higher-than-expected US wholesale inflation. Block's CEO Jack Dorsey announced significant workforce reductions, citing AI's potential to enable smaller teams to achieve more, a move that boosted Block's stock. European markets mostly mirrored the pessimistic sentiment.