AI Fears Drive Volatility, Triggering Declines in Stock Market It Powered for Years
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergFor three years, AI was the stock market’s savior. Suddenly, it’s become a marauder, and virtually no corner of the equity market looks safe from its impact.
Just in the past 10 days, investors have delivered swift routs to companies toiling in industries as disparate as logistics, real estate, software, private credit, insurance and wealth management. In each case, the release of a new artificial intelligence tool, most famously from Anthropic PBC but also from small, lesser-known startups, prompted a rapid reassessment of business prospects.