By Georgie McKay
Publication Date: 2026-02-23 17:14:00
(Bloomberg) — The artificial intelligence “scare trade” erupted again on Monday as growing concerns about the disruptive power of AI dragged down shares of delivery, payments and software companies, and sent International Business Machines Corp. to its worst plunge in 25 years.
It began after a bearish report was published over the weekend by a little known firm called Citrini Research.
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The report, released on social media Sunday, outlined the potential risks to various segments of the global economy, using hypothetical scenarios set in the future, specifically calling out food delivery services and credit card companies as ones facing trouble.
Then AI startup Anthropic said in a blog post Monday that Claude Code tool can help with modernizing COBOL, a dated programming language that’s mainly run on IBM computers.
And finally came a warning from Nassim Taleb: investors should brace for escalating volatility and even…
