Anthropic's Push into Legal and Financial Services Triggers Hundreds of Billions in Tech Stock Losses

Legacy software makers saw massive selloffs Thursday after Anthropic announced Claude tools for financial research and legal work, spoking investors about AI-driven obsolescence.

Hundreds of billions of dollars in market capitalization were erased from technology stocks on Thursday, with the catalyst being Anthropic's expansion into legal and financial services. As @business reported, the selloff was broad and severe, hitting legacy software makers especially hard.

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