IT stocks slip up to 3.5% after Fed holds rates, flags persistent inflation

Indian IT stocks fell after the US Federal Reserve kept rates unchanged and signaled a cautious stance on future cuts, with projections showing just 50 bps in 2025 and 25 bps in 2026. Stocks like LTIMindtree and Tech Mahindra dropped sharply. Fed Chair Powell flagged persistent inflation risks, while Trump renewed pressure for aggressive rate cuts.