AI Stock Dip Spreads To Other Sectors, Are We Heading For A Massive Tech Crash?
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You know that thing where you get a bunch of people in a circle to lie back on the legs of the person behind them? What’s it called…? Oh my god I just went down a rabbit hole, it literally doesn’t have a name, and Googling ‘human chair’ reveals unspeakable horrors.
ANYWAY, my point is it feels like the economy is currently that chair game where if you remove one person, the whole thing falls apart. And that was a very long winded way of saying that Wall Street is very reliant on AI at the moment. I’m sorry I wasted your time there.
We’re seeing a lot of stocks down this week as a raft of investors dumped their stocks fearing an AI crash. Self fulfilling prophecy much?
But the interesting part is that this selloff has extended to other sectors, pulling down transportation, wealth management, logistics, and even the egg-polishing industry.
Looks like the human chair is collapsing before our eyes.
So will this lead to an even bigger crash? Well, probably not. The numbers we’re seeing here are relatively recoverable and in many cases its punishing companies who aren’t using AI. Since the general trend is towards widespread adoption of the technology. How that will effect the economy still remains to be seen.
As for me, well, as a human being, I’m slightly biased against AI. But what do you think? Are you an AI? Let us know in the comments!
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