Indian IT stocks suffered a heavy setback as the market approached the disruptive potential of artificial intelligence with caution.

The stock price of Indian software companies fell on Wednesday, echoing a sharp decline in the region. Tata Consultancy Services fell by 6% at one point, marking its largest drop since April 7, while Infosys dropped by 6.2%. All 10 components of the Nifty IT index fell, with the index itself dropping by 6%, its largest intraday decline since April.