Mphasis, Persistent, and other IT stocks fall up to 6% amid renewed US-China trade tensions

Shares of Indian IT companies tumbled sharply amid renewed US-China trade tensions, with Mphasis leading losses, dropping 6.5% after FedEx ended its long-term deal. Persistent Systems, Tech Mahindra, and Wipro also fell. The Nifty IT index slipped over 1%, reflecting investor concerns over the escalating trade conflict and its impact on IT exports tied to the US market.