Indian IT stocks, including Infosys and TCS, experienced a significant decline of up to 3% on Thursday. This downturn was triggered by a hawkish stance from the US Federal Reserve, which has increased expectations of a rate hike later this year. Concerns over reduced discretionary spending in North America, a key market for these companies, are driving the sell-off.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets