Financial Stocks Are Getting Crushed. Consider Buying This Low-Cost Vanguard ETF.

2026-03-03 12:13:00 ET

On Feb. 22, Citrini Research -- an independent financial research firm on Substack -- posted on X and published a report titled, "The 2028 Global Intelligence Crisis."

The report forecasts incredible strides in artificial intelligence (AI) capabilities and efficiency, at the expense of double-digit unemployment, as AI wreaks havoc on white-collar jobs. Under these hypothetical conditions, the report argues that the consumer-dependent economy would be severely impacted, with ripple effects extending to the housing market and other core pockets of American household wealth.

As gloomy as the report's forecast was, even more jarring was the impact on the financial sector , which fell 3.3% on Feb. 23 led by steep losses from major banks and payment processors. In a single session, Visa fell 4.3%, Mastercard slipped 5.3%, and American Express -- which caters to affluent consumers who would presumably be the most impacted from a "global intelligence crisis" -- fell 7%.

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