Publishing and analytics stocks dropped on Wednesday, extending declines from Tuesday’s session after AI company Anthropic’s launch of productivity tools prompted a sell-off among a group of perceived losers from artificial intelligence.
Anthropic’s suite of new tools for its Claude Cowork platform promises to automate company tasks, including legal work, marketing and customer support. The release has unnerved investors about the impact of the technology on media and analytics businesses, sending share prices sharply lower.
The London Stock Exchange Group fell 6.3 per cent early in the European trading session, adding to a 9 per cent fall on Tuesday. FTSE 100 media and data company Relx dropped 2.3 per cent, after shedding 16 per cent in the previous session.