AI-linked fears roil some corners of Wall Street after years of hype and gains
NBC News
Stocks surged to records in large part because of hope — and hype — about artificial intelligence.
Stocks surged to records in large part because of hope — and hype — about artificial intelligence.
But in recent months, worries about aggressive spending on AI have rippled through Wall Street as investors question whether that spending will materialize into actual profits. And some industries wavered this week as anxieties about the technology intensified, underscoring how quickly sentiment has shifted since the start of the year.
Visa, Mastercard and IBM all fell sharply Monday, extending a broader bout of volatility across AI-linked names. Tuesday saw a modest bounce back across the markets as some software stocks also rebounded, thanks to new AI integrations announced by Anthropic. The benchmark S&P 500 index remains roughly flat for the year.
Since November, AI-powered coding systems such as Anthropic’s Claude Code and OpenAI’s Codex have surged in capabilities and popularity among software developers. Using these tools, complex software packages and products can now be developed in minutes or days.
The most recent sell-off came after a grim and now-viral weekend substack post by Citrini Research warned of an eventual stock market crash, a sharp pullback in consumer spending and widespread white-collar layoffs by 2028 as a result of AI.
Major airlines and millions of U.S. travelers are facing a rare set of challenges this spring are making it more costly and less convenient to fly.
U.S. crude oil passed $100 per barrel Sunday, continuing its surge despite efforts by the Trump administration and allied countries to slow rising prices.
Americans are poised to receive bigger refunds when they file their taxes this year than they did in 2025, due to changes in the tax code
The ongoing war in Iran is disrupting fertilizer shipments through the Strait of Hormuz, raising farmers' costs and pushing food prices higher.
The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at a sluggish 0.7% annual rate from October through December, the Commerce Department reported Friday in a big downgrade of its initial estimate
The price of oil jumped more than 7%, as the war on Iran was "creating the largest supply disruption in the history of the global oil market."
An Iran-linked hacker group has claimed responsibility for a cyberattack on a medical tech company in what appears to be the first significant instance of Iran’s hacking an American company since the start of the war between the countries
The Consumer Price Index for the month of February is expected to show that prices rose only slightly right before the Iran war sent energy costs skyrocketing.
A federal judge ordered Live Nation to engage in settlement talks with a group of state attorneys general who accuse the live entertainment behemoth of illegally dominating the industry.
An Ohio federal judge on Monday said she's obligated to "avoid absurdity" and ruled that Kalshi's prediction markets in sports amount to acts of gambling — which should come under state regulations
A drop in oil prices slowed after Defense Secretary Pete Hegseth warned the day would be America's "most intense day of strikes inside Iran."
Uber launched a feature Monday to allow both women riders and drivers across the U.S. to be matched with other women for trips, expanding a pilot program aimed at addressing concerns about the safety of its ride-hailing platform.
The price of oil surged Monday, as the effects of the Iran war hit markets worldwide and stoke fresh worries about inflation.