Wall Street, welcome to our world [View all]

[genxlib]

If Wall Street has any sense of irony, they would see today's news as a harbinger that they are subject to the same market forces that everyone else is.

https://finance.yahoo.com/news/live/stock-market-today-nasdaq-sinks-sp-500-tumbles-as-ai-fears-rock-tech-stocks-143116264.html

Stock market today: Nasdaq sinks, S&P 500 tumbles as AI fears rock tech stocks

Markets have been rattled by claims by China's DeepSeek that its AI assistant uses cheaper chips and less data than leading models, but performs equally well. A surge in DeepSeek's popularity has spurred investors to question bets that AI demand-driven growth will keep fueling gains for stocks.

If you look at this closely, it is a window into two of the biggest calamities to attack the US workforce in recent history

1. Some overseas outfit can do your job cheaper
2. Some AI company is going to steal the work you counted on doing

Welcome to our world