Wells Fargo and other banks fall amid AI fear rotation
Barron's reports U.S. large lenders were on track for their biggest declines in months as investors rotated into technology stocks amid AI fears sparked by Meta's Muse.
S. lenders were on track for their steepest declines in months on Tuesday as investors rotated out of the group and into technology stocks. The moves highlighted concerns that advances in artificial intelligence could become more of a threat than a tailwind.