Accenture Plc has reported a slowdown in its U.S. government consultancy work due to cost-cutting measures implemented by the Department of Government Efficiency (DOGE), led by Elon Musk. The company's shares experienced a significant decline of 7% following the announcement, marking the stock's lowest price in eight months. Accenture's CEO, Julie Sweet, highlighted that the new administration's push for efficiency has led to delays in new procurement actions, negatively impacting the company's sales and revenue. The impact of DOGE's initiatives extends beyond Accenture, with other consulting firms such as Booz Allen Hamilton and IBM also seeing their stock prices fall. Accenture's federal government segment, which accounts for 8% of its global revenue and 16% of its Americas revenue, is particularly affected. The company noted a decrease in new contract bookings, signaling a broader caution among enterprises amid geopolitical and economic volatility. Accenture's quarterly earnings, however, were in line with analyst expectations, with revenue and earnings for the period ending last month meeting forecasts. Despite the solid financial performance, the uncertainty surrounding federal spending has led to a cautious outlook for the company's future growth. Accenture projects an annual revenue growth between 5% and 7% for fiscal year 2025, slightly adjusting from its previous guidance. The ripple effect of Accenture's performance is felt in the Indian IT sector, with stocks like Wipro, Tata Consultancy Services (TCS), Infosys, HCL Tech, and Mahindra Tech expected to open weakly. The disappointing guidance from Accenture has dampened investor sentiment, potentially influencing the performance of these companies in the near term.