Infosys, Wipro, other IT stocks fall as US Fed says December rate cut is far from guaranteed

Shares of information technology slipped up to a percent in morning deals on Thursday, October 30, after the US Federal Reserve struck a measured tone, cautioning investors against assuming that another rate cut would follow in December.

“A further reduction in the policy rate at the December meeting is not a foregone conclusion — far from it,” Powell said at his post-meeting press conference.