IBM stock hit by worst drop since 2000 after Anthropic’s COBOL claim — what to watch next
IBM shares fell 13.2% to $223.35 on Monday, their largest one-day drop since 2000, after Anthropic claimed its Claude Code AI tool could accelerate COBOL modernization on IBM mainframes. Investors await IBM’s messaging at a March 3 conference and April 22 earnings. Other software stocks also declined amid concerns over AI disruption.