Key facts
- Indian software company shares experienced a significant drop on Friday.
- The selloff was attributed to Accenture's forecast of slower revenue growth.
- This decline contributed to broader worries about the tech sector.
- The tech sector has lost approximately 30% of its market value this year.
Shares of Indian software firms experienced a significant decline on Friday, mirroring a broader global selloff in technology stocks. The downward pressure was exacerbated by Accenture's forecast of slower revenue growth, intensifying concerns about the technology sector's performance. This downturn adds to existing worries, as the sector has already shed nearly 30% of its market value over the course of the year.