Computing and AI company IBM saw its largest single-day drop in 25 years on Monday, tumbling 13.1% to $223.35.
A Citrini Research report that warned of a doomed economy due to AI has been partially blamed for a sell-off in software and payments stocks on Monday.
Citrini's “Global Intelligence Crisis” report has amassed over 22 million views on X alone, discussing how AI agents could drive corporate profits so high that human labor could become increasingly redundant, triggering a recession.
It also outlines a chilling June 2028 scenario, in which the Standard & Poor's 500 is down 38% from its all-time high, unemployment is over 10%, private credit is unraveling and prime mortgages are cracking — all while AI didn’t disappoint, exceeding every expectation.
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