US Fiscal Concerns Hit Indian IT Stocks

Published 1 year ago

The Nifty IT index fell 1.16% due to worries about US fiscal policy. Proposed tax cuts and a downgraded US credit outlook raise concerns about reduced IT spending by key American clients, impacting Indian IT firms.

Nifty IT down 1.16%, led by Persistent Systems.
US tax cut plans fuel debt and deficit fears.
Moody’s downgrade adds to macroeconomic headwinds.

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