AI developer Anthropic recently released new plugins for its Claude Cowork AI agent. These tools automate complex white-collar tasks including legal contract review, compliance, data analysis, and financial modeling. Investors sold off shares in software, financial services, and asset management sectors due to fears of business model disruption.
The market reaction wiped out an estimated $285 billion in market value across the affected global sectors. Companies providing data and software for legal and financial services experienced the most significant impact.
Shares in Thomson Reuters, RELX (owner of LexisNexis), London Stock Exchange Group, Pearson, and Experian all declined sharply. The sell-off also impacted major U.S. software giants and Indian IT firms as investors repriced long-term risks from advanced AI agents.