02/28/2026
Nothing underlines the sensitivity of stocks right now quite like what happened on Monday, when one of the factors behind the Dow’s 800-point drop was a 7,000-word hypothetical.
A viral report by Citrini Research tapped into a new strain of fears about AI, painting a dark portrait of a future in which technological change inspires a race to the bottom in white-collar knowledge work.
Concerns of hyperscalers overspending are out. Worries of software-industry disruption don’t go far enough. The “global intelligence crisis” is about to hit.
“For the entirety of modern economic history, human intelligence has been the scarce input,” Citrini wrote in a post it described as a scenario dated June 2028, not a prediction. “We are now experiencing the unwind of that premium.”
Many of Monday’s moves roughly aligned with the situation outlined by Citrini, in which fast-advancing AI tools allow spending cuts across industries, sparking mass white-collar unemployment and in turn leading to financial contagion.
Software firms Datadog, CrowdStrike and Zscaler each plunged more than 9%. International Business Machines’ 13% decline was its worst one-day performance since 2000. American Express, KKR and Blackstone—all name-checked by Citrini—tumbled.
đź”— Read more: https://on.wsj.com/3Oq6ASv