Citrini Founder Surprised as AI Forecast Triggers Stock Market Selloff
Dystopian AI Scenario Triggers Sharp Drop in Tech and Financial Stocks
India, Feb 25 : James van Geelen, founder of Citrini Research, said he never anticipated that publishing a speculative report on artificial intelligence would shake Wall Street. His 7,000-word Substack piece titled “The 2028 Global Intelligence Crisis” outlined a hypothetical scenario in which rapid AI adoption leads to mass white-collar layoffs, rising unemployment above 10%, and a severe market downturn.
Within hours of markets opening Monday, investor sentiment turned sharply negative. The S&P 500 Index slipped more than 1%, financial stocks posted their worst session in months, and a leading software exchange traded fund fell over 4%. Shares of companies referenced in the report including ServiceNow Inc., DoorDash Inc., and American Express Co. also declined.
The reaction came amid existing anxiety over AI driven disruption, tariffs, and geopolitical tensions. While markets rebounded the following day, the episode underscored growing sensitivity around AI’s economic impact.
Van Geelen said the article was intended to spark debate, not panic, adding that discussions about AI’s long-term consequences are necessary as the technology reshapes industries and labor markets.
