AI anxieties and market tumbles
Marketplace Morning Report
Marketplace
4.5 • 927 Ratings
🗓️ 24 February 2026
⏱️ 6 minutes
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Summary
Wall Street is looking to recover after yesterday's big stock market drop. Part of it was due to tariff uncertainty, but part of it was also due to a thinkpiece that painted a nightmare scenario in which AI displaced white-collar jobs throughout the economy — in areas far beyond the software, technology, and financial firms that have recently faced a selloff. Also: Depop's new owner and a look at who gets left behind by new Trump Accounts.
Transcript
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| 0:00.0 | How just a narrative with no new facts can wipe billions in value off the stock market. |
| 0:07.3 | I'm David Brancaccio in Los Angeles. The stock market's big drop yesterday, minus 821 points or 1.7% for the Dow, |
| 0:15.7 | is being put down in part to uncertainty over tariffs after many were deemed illegal. |
| 0:20.6 | Today, a new 10% global rate |
| 0:22.2 | took effect with President Trump calling for 15%. Something else spooked market players yesterday |
| 0:27.9 | who were forwarding around a stock analysis firm's doomsday thought experiment about |
| 0:33.3 | possible negative effects of artificial intelligence for the economy? Marketplaces Novasopo explains. |
| 0:39.4 | The hypothetical from Citrini Research, written in a think piece widely circulated among |
| 0:44.0 | Wall Street analysts and investors, painted a nightmare scenario in which AI displaced |
| 0:49.1 | white-collar jobs throughout the economy in areas far beyond software, technology, and financial firms, which have |
| 0:55.8 | recently faced a sell-off. The paper talked of AI agents looking to save consumers' money, |
| 1:01.6 | creating a race to the bottom in fees, prices, and various middleman costs, including cutting out |
| 1:07.1 | credit card transactions and using cryptocurrencies, which would hit MasterCard and |
| 1:12.4 | Visa. One Wall Street analyst said he was forwarded the paper around 10 times, and many of the |
| 1:18.8 | names mentioned in the hypothetical experienced a steep sell-off in shares, including DoorDash, |
| 1:24.6 | down 6.5% and Capital One down nearly 9%. Wall Street has been concerned about the |
| 1:31.2 | speed of artificial intelligence advancements and how they might filter among industries that have yet |
| 1:37.3 | to prepare for those disruptions. I'm Novosafo for Marketplace. |
| 1:41.8 | Yet there's this analysts at Wall Street Powerhouse Goldman Sachs calculate that artificial intelligence contributions to U.S. economic growth last year was in the billions, the trillions. |
| 1:52.7 | Goldman's calculation for how much AI boosted GDP last year, quote, basically zero. |
| 1:58.4 | We're all supposed to start our next sentence with the two words, but eventually. |
| 2:02.7 | The online marketplace eBay is buying Deepop, a secondhand clothing site popular among teens and 20-somethings for $1.2 billion. |
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