Data-Provider Stocks Tumble on AI Competition Fears -- WSJ

Dow Jones01:32

By Xavier Martinez

Financial data-provider stocks dropped after artificial-intelligence company Anthropic announced it added new functions for legal users of its Cowork assistant. While shares of European legal publishers were the first to drop, the selloff quickly expanded to market-data heavyweights.

-- S&P Global was on pace for its largest percent decrease since March 2020, during the Covid-19 pandemic. Its stock was recently down about 11%.

-- FactSet, a provider of financial information and analytics, was recently down about 10%.

-- The volatility follows Anthropic's announcement on GitHub that its AI-powered legal services now automate high-stakes tasks, including contract reviews, compliance workflows and legal briefings.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

February 03, 2026 12:32 ET (17:32 GMT)

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