Business
Markets Start to Recover After Brutal AI Selloff
Stocks looked set to open in the green Tuesday as investors tried to make sense of yet another selloff tied to worries about rapid advancements in artificial intelligence.
Futures tracking the Dow Jones Industrial Average rose 80 points, or 0.2%. S&P 500 futures were also 0.2% higher, while contracts tied to the tech-heavy Nasdaq 100 were up 0.3%.
The indexes plunged on Monday, with the Dow shedding more than 800 points after a viral blog post by Citrini Research described a hypothetical scenario where AI drives the unemployment rate above 10% by 2028. Shares in food delivery apps, credit-card providers, and alternative asset managers tumbled.