00:00It's Benzinga bringing Wall Street to Main Street
00:02Hundreds of billions of dollars were wiped from stock and credit markets this week as an AI-driven
00:07sell-off spread rapidly across the software sector and related assets, according to Bloomberg.
00:12The decline unfolded over two days and hit companies across Silicon Valley,
00:17with software stocks at the center. An iShares software ETF lost nearly $1 trillion in value
00:23over the past seven days. The sell-off followed growing concern that AI is beginning to replace
00:28core business models rather than fears of a valuation bubble. Investor anxiety intensified
00:33after Anthropic released a legal-focused AI tool and as Alphabet raised AI spending plans while
00:39Arm issued a weaker sales forecast. Selling later expanded into financial services and
00:44tech-linked credit markets. For all things money, visit Benzinga.com.
Comments