Financials extend sell-off as sentiment remains weak
Financial stocks extend sell-off as investor sentiment remains weak, underperforming broader markets
S&P 500 Financials .SPSY down 0.4%, compared with the 0.6% rise in the S&P 500 .SPX
Bank of America BAC.N down 2.5%, Citigroup C.N falls 2%, Wells Fargo WFC.N slips 2.4%, and JPMorgan Chase JPM.N slips 1.5%
The launch of several AI tools in recent weeks has sparked a series of sell-offs across different financial sectors
Anthropic on Tuesday unveiled new AI tools, including plug-ins that could help with investment banking tasks, private equity, engineering and design
Analysts have said the “sell-first, ask questions later” approach is flawed and investors could be overestimating the potential for AI disruption
JPMorgan CEO Jamie Dimon told investors on Monday that the bank would be a winner in the AI space
"At the end of the day, if you look at 100 areas, we'll be a winner in 75 and maybe a loser in 25," Dimon said
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