AI Is Knocking Stocks Down Like Dominos
Software fell first. Then wealth management. Then trucking. Markets are adjusting to AI targeting coordination work
Trucking and logistics stocks fell sharply this week after a small AI company said its freight software reduced empty miles by more than 70% in live deployments and improved truck utilization above 90%. There were reported steep declines in companies such as C.H. Robinson and Landstar following the announcement. It was the latest sector pulled into what analysts have described as an AI-driven rotation.
Days earlier, brokerage and wealth management stocks dropped after Altruist introduced an AI-powered tax planning feature inside its Hazel platform. In a Feb. 10 press release, the company said the system reads tax returns, paystubs, account statements, and CRM data to generate personalized strategies in minutes. Reuters reported that shares of Charles Schwab, Raymond James, LPL Financial, and Ameriprise fell after the launch.
Read more: AI Just Hit Wealth Management’s Core Business
Before those moves, software stocks were already under pressure. On Feb. 5, outlets reported the Nasdaq’s worst three-day slide since April, tied to concerns about artificial intelligence following Anthropic’s plug-in release. The broader software selloff disrupted IPO and M&A activity.
Within two weeks, AI-related concerns moved from software to financial services and then to logistics. Each decline followed a product announcement that investors linked to automation and cost savings.
AI companies have released products for years. What changed recently is how investors interpret where those tools are being applied and how they could affect revenue and operating costs.
Where AI Touches the Money
Recent coverage tied the software selloff directly to fears that AI is moving deeper into core application layers rather than remaining a support tool. That shift matters because many software companies depend on recurring subscriptions linked to workflow integration.
In wealth management, tax planning is embedded inside advisory relationships that are often priced as a percentage of client assets. Altruist said Hazel can read tax documents and internal systems to generate strategies automatically. Reuters reported that brokerage stock declines reflected concerns about efficiency gains being competed away and long-term fee pressure.
In logistics, empty miles represent direct cost and lost revenue. SemiCab said its platform reduced empty miles by more than 70% across live freight networks and increased loaded-mile utilization above 90%. Analysts discussed whether AI freight platforms could reduce the role of traditional brokers that coordinate shipments.
Across these industries, revenue depends on coordination and service labor. Software firms monetize access to workflows. Advisors monetize planning and client interaction. Brokers monetize matching supply and demand. When AI systems claim to automate these tasks at scale, investors begin to reassess how much labor, and margin, those models require.
Integration depth reinforces that perception. Hazel integrates across tax documents and CRM systems. SemiCab reports live customer deployments. Anthropic’s plug-ins are embedding directly into enterprise workflows. These tools are positioned inside core systems rather than at the margins.
Markets React to Possibility
The sequence amplified the reaction. Software stocks weakened first. Brokerage shares fell next. Logistics followed. Bloomberg described the trucking selloff as part of a spreading “AI scare trade” across sectors.
The selloffs coincided with signs of labor market weakness. Job openings fell to their lowest level since 2020 and that the VIX rose above 20, signaling elevated volatility. The Nasdaq was already down roughly 6% from its October record high.
Jefferies strategist Mohit Kumar told CNN that markets were in a “shoot first and ask questions later” phase. Reuters reported that the software decline disrupted IPO and M&A pipelines, adding pressure to valuations
None of the affected sectors reported AI-driven revenue declines during these moves.Coverage focused on investor expectations rather than confirmed earnings damage.
In each case, the trigger was a product claim: automated tax strategy generation, enterprise plug-ins embedded in workflow software, freight platforms reducing empty miles at scale. Investors mapped those claims onto business models built around advisory time, software seats, and brokerage spreads.
The repricing occurred before any balance sheet changed. Markets are re-evaluating coordination-heavy industries when automation moves into functions that determine revenue capture.