Friday the 13th brings global selloff in stocks and gold as AI fear grips markets

S&P 500 futures are flat this morning prior to the opening of markets in New York after the index fell 1.57% yesterday as traders fled from stocks exposed to AI. The market is now in negative territory for the year.

Tech stocks led the decline yesterday, with the Nasdaq Composite down 2%. The S&P 500’s software sector is down 27% since October, according to the Financial Times, which gives you an idea of how worried investors are that AI will simply replace software makers. Gold—which...