The “AI Scare Trade” Is Back Consulting, Software, Payments Get Hit

Markets didn’t just sell off on tariffs. The **AI disruption narrative** came roaring back.

After **Anthropic** unveiled tools aimed at automating high-end consulting work, investors immediately repriced entire business models. **IBM** got crushed (-13%), with Accenture and Cognizant not far behind.

Software, payments, logistics anything built on “human-intensive workflows” took collateral damage. Whether or not the fear is overblown, markets are clearly saying: *show me how AI helps margins, not hurts them*.