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Stock impact report

Why the ‘AI scare trade' might not be done [CNN]

Arthur J. Gallagher & Co. (AJG) 
Last arthur j. gallagher & co. earnings: 4/30 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.ajg.com/investor-overview
Company Research Source: CNN
Software stocks bore the initial brunt of AI disruption nerves . But those fears soon spread to insurance companies, brokerage firms, real estate services — even logistics and trucking. “Market is in shoot first, ask questions later mode, with any names/sectors that could be impacted by AI disruption taking a hit,” Mohit Kumar, a strategist at Jefferies, said in a note. The slump in shares points out a major change for investors going forward: AI, which had been powering big rallies in tech and other stocks for months, could now actually drag on some parts of the market. Financial services Shares of major insurance brokers fell on February 9 after Madrid-based startup Tuio unveiled a new insurance app built with ChatGPT, according to UBS. That sparked fears that AI tools could eat into existing companies' business models and customer bases. Shares of professional services and insurance companies sank. Marsh shares ( MRSH ) tumbled 7.5%. Arthur J. Gallagher shares ( AJG ) dr Show less Read more
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