Infosys leads Indian IT sell-off, triggered by US rate hike fears

Infosys and major Indian IT stocks fell up to 3.5% on September 7. The Nifty IT index dropped more than 1% as sector-wide sentiment soured.

A robust U.S. jobs report fueled expectations that the Federal Reserve will maintain high interest rates for longer. Investors fear these elevated rates will curb client spending in the critical U.S. market.

This downturn extends a period of negative performance for the company. Infosys shares have declined approximately 7% over the past month.