India’s IT sector is crumbling under relentless pressure, battered by a toxic mix of Trump tariffs fueling US recession risks, weak earnings expectations, and a brutal wave of broker downgrades. All 10 stocks in the Nifty IT index are now in bear territory—down over 20% from their peaks—with heavyweights like TCS (-26%), Infosys (-25%), and HCL Tech (-27%) leading the plunge. Oracle Financial Services Software (OFSS) has suffered the deepest wounds, sinking 43%. The Nifty IT index itself has crashed about 23% from its highs, making IT the biggest casualty in India’s stock market rout this year.