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The Indicator from Planet Money

How AI might mess with financial markets

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 9 October 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

Market manipulation is an age-old issue. People trying to make money off unsuspecting investors by artificially influencing the price of a stock, say. But what happens when the one manipulating markets isn't human? 

This week on The Indicator from Planet Money, we bring you five episodes digging into the evolving business of crime. Today on the show, we hear how AI could spell mischief for the markets, and why the law is already behind in preventing it.

Related episodes:
How much is AI actually affecting the workforce? 
Shorters Gonna Short For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.  

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Transcript

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0:00.0

Big announcement. Planet Money is publishing a book. And as of today, it is finally available for pre-order at planetmoneybook.com. The book is called Planet Money, a guide to the economic forces that shape your life. It has lots of stories, all that can help you use economics to make life a little richer.

0:22.3

From work and career to retirement in food to dating and family.

0:27.6

And of course, we'll be doing some episodes about the behind-the-scenes things we learned

0:32.0

while reporting and publishing this book. Things like this. Pre-ordering a book helps the author so much more than waiting to buy it.

0:39.9

It sends a signal to the booksellers to stock up, to promote it, to put it on that front table when it does publish.

0:46.6

So help us get some strong pre-order sales. You'll get a free gift and a free month of Planet Money Plus if you aren't already a subscriber.

0:56.2

Go to planetmoneybook.com.

0:58.7

And thank you.

1:04.9

NPR.

1:10.5

Music For almost as long as there have been financial markets, there have been people trying to manipulate those markets.

1:23.2

People who made money off unsuspecting investors by artificially influencing the price of a stock

1:29.0

or some other security.

1:30.9

But what happens when the people perpetrating these market manipulation schemes are not

1:35.0

people at all?

1:36.7

What if they're computers powered by AI?

1:40.0

This is the indicator from Planet Money.

1:41.7

I'm Waylon Wong.

1:42.8

And I'm Adrienne Ma.

1:43.8

Today on the show, we continue our series on the evolving business of crime

1:47.7

with a look at a fast-evolving brand of financial chicanery,

1:52.5

AI-enabled market manipulation.

1:55.4

And market manipulation can be bad enough when done by humans,

...

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