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Number go down, Wall Street edition.
The sell-off at least in part is about Wall Street losing confidence in AI. (I did warn you it was going to be a year of reckoning back in February!) There are a couple of other things going on, with potentially long-term effects on tech, too.
Crypto, a proxy for investors’ appetite for brainless risk, started a plunge that continued to worsen into Monday morning. The cause of all this came from three surprising pieces of economic data that came out last week, causing traders to rethink how they make, or at least don’t lose, money.
Why Is the Stock Market Crashing Today?
[Intelligencer]
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