Back to today’s briefing

Story perspectives

AI Fears Spark Major Selloffs in Wealth Management Stocks

2/11/2026

46 8 Full Breakdown

Summary

AI Disrupts Wealth Management

Fears about artificial intelligence trigger significant selloffs in wealth-management stocks.
On February 10, 2026, a new tax strategy tool from Altruist Corp. triggered declines in major firms such as Charles Schwab and Raymond James, with losses above 8%.
Analysts express uncertainty about the future, noting that AI's potential to disrupt traditional business models alarms investors.
OpenAI and Anthropic expand their influence in finance.

Summary

AI Pressures Software Stocks

On February 10, 2026, software stocks fell, led by AI shares, with the iShares Expanded Tech-Software Sector ETF down nearly 20% this year.
Investors cited competitive pressures from new AI development tools.
ServiceNow, Inc. posted strong results with 19.5%–20% subscription growth, yet the stock fell about 55% from its peak.
Analysts say Now Assist is expanding, but a seat-based revenue model could suffer as AI reduces staffing needs.

1 of 2

AI Disrupts Wealth Management

Fears about artificial intelligence trigger significant selloffs in wealth-management stocks.
On February 10, 2026, a new tax strategy tool from Altruist Corp. triggered declines in major firms such as Charles Schwab and Raymond James, with losses above 8%.
Analysts express uncertainty about the future, noting that AI's potential to disrupt traditional business models alarms investors.
OpenAI and Anthropic expand their influence in finance.

1 / 2