RELX
34.7002.28%
Anthropic has launched a new tool for corporate legal teams, automating tasks like contract review and NDA triage. This triggered a sharp sell-off in European and US legal software and publishing stocks. Wolters Kluwer plunged as much as 13%, and RELX dropped 14%.
The pressure spread to Asia on Wednesday. Australian stock Xero fell up to 15%, its biggest drop since May 2021, while Japan's OBIC declined 6%.
Another AI update, another sector gets hit. The software industry is facing massive disruption!
$Microsoft(MSFT.US)
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.