Shares of IT giants Infosys and Wipro experienced declines on Wall Street influenced by Accenture's revised revenue projection for 2024, reflecting the cautious economic outlook. The consulting firm's share price tumbled over 9% following its updated forecast, anticipating subdued demand for its services due to economic headwinds. This development highlights the broader challenges faced by the IT and consulting sector, with businesses tightening budgets and limiting spending on additional services. Indian IT majors such as TCS and Infosys have previously reported subdued results, in line with this trend of reduced industry spending. Accenture's third-quarter revenue forecast fell below market estimates and new bookings experienced a decline, contributing to the negative sentiment.