Citrini’s AI Doom Report Leads to Tech Stock Selloff

A new report by Citrini Research, outlining extreme scenarios of AI-driven economic disruption, was partially responsible for a significant sell-off in software and payment stocks on Monday. The report detailed potential consequences like widespread job losses, reduced consumer spending, and threats to the US mortgage market, envisioning a scenario in June 2028 where the S&P 500 could fall 38% and unemployment exceed 10%. Citrini theorized the emergence of “Ghost GDP,” where economic output isn’t reflected in the real economy. The report’s findings negatively impacted tech and credit card companies, with IBM experiencing its largest single-day drop in 25 years. However, some tech investors argue that the current costs of AI agents don’t yet justify replacing human labor, citing high operational expenses and limited productivity. Despite this, the report fueled macroeconomic uncertainty, contributing to a decline in Bitcoin’s value and a rise in safe-haven assets like gold.

(Source：Cointelegraph)