According to Bloomberg, markets have been hit by a new wave of sell-offs. Investors are becoming more cautious due to two factors: the threat of AI to corporate profits and uncertainty surrounding US trade policy.
The technology and software sectors are experiencing the sharpest declines. IBM shares fell more than 13%.
DoorDash and American Express shares fell more than 7% after a report by Citrini Research noted that AI poses structural risks to several industries at once.
Continue reading this article on source: bloomberg.com