Ibm Stock Tanks 13% After Anthropic’s Claude Code Targets Cobol

Ibm Stock plunged 13% Monday after Anthropic PBC said its Claude Code tool can help modernize Cobol, a dated programming language that’s run on IBM computers, handing International Business Machines Corp. its worst day in more than 25 years.

Ibm Stock plunged 13% in biggest single-day percentage loss since October 2000

The stock plunged 13% in its biggest single-day percentage loss since October 2000. The drop left International Business Machines Corp. with its worst trading day in more than 25 years, a sharp move tied to investor reaction on Monday.

Anthropic PBC’s Claude Code and Cobol modernization

Anthropic PBC said its Claude Code tool can help modernize Cobol, a dated programming language that’s run on IBM computers. That claim — that Claude Code can address modernization of Cobol systems — is the development investors cited as the immediate catalyst for the sell-off.

February slide pushes shares 27% lower

With the decline, IBM shares have fallen 27% in February and are on track for their biggest one-month slide since at least 1968. Data compiled by show the monthly drop accelerated after the Claude Code announcement.

The story’s opening framing

The original coverage began with a self-description that connected decision makers to a dynamic network of information, people and ideas, saying it delivers business and financial information, news and insight around the world. That framing led into the account of International Business Machines Corp. ’s trading reaction on Monday and the details about Cobol and Claude Code.

What comes next is unclear in the provided context

Further market moves, company statements or follow-up technical assessments of Claude Code’s impact on Cobol systems are unclear in the provided context.