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Stock Market 24 February 2026

IBM stock hit by worst drop since 2000 after Anthropic’s COBOL claim — what to watch next

IBM stock hit by worst drop since 2000 after Anthropic’s COBOL claim — what to watch next

IBM shares took a beating Monday, plunging 13.2% to $223.35—their sharpest single-day fall since the late '90s—after Anthropic claimed its AI tools could overhaul COBOL systems still running on Big Blue’s mainframes. That news also stung other software players. CrowdStrike and Datadog both lost ground as traders started questioning how disruptive the fresh wave of AI products could be across the sector.
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