Thomson Reuters (TRI), RELX (REL), and Wolters Kluwer’s (WKL) stocks dropped 16%, 14%, and 13% respectively after Anthropic introduced a legal plug-in for its Claude product. This move marks a shift in the AI disruption narrative that has affected these stocks since 2025. Claude’s legal plug-in targets in-house legal teams, expanding the AI assistant market and potentially reducing growth for legal technology providers like Thomson and RELX. Despite the stock reactions, analysts maintain wide moats and fair value estimates for all three firms, which are currently undervalued. The market reaction signifies an overestimation of AI-driven legal growth, though the potential risk will be illuminated when Thomson reports earnings on Feb. 5.

Read more at Morningstar: Thomson Reuters, RELX, and Wolters Stocks Crushed After Anthropic Debuts Claude Legal Plug-In