AI Fears Send Prices Plunging Again, IBM Hit by COBOL Modernization Tool

Multiple reports from high-authority financial outlets consistently state that IBM's share price declined sharply following the release or declaration of a COBOL modernization tool associated with Anthropic's Claude Code initiative. Major publications, including Bloomberg, Yahoo Finance, The Register, and Investing.com, describe a significant sell-off—characterized as IBM’s worst day in decades or a drop exceeding 13%—directly linking the decline to market reactions over COBOL modernization news. These reports demonstrate a coherent narrative across independent sources with high relevance to stock performance. No source contradicts the claim, and the few technical IBM publications focus solely on product details rather than financial impacts. Given the uniformity, authority, and specificity of the evidence connecting the event to the share price movement, the statement that IBM's stock price declined following news about a COBOL modernization tool is strongly supported by primary, credible evidence.