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The AI bots are coming and the young are booing, not applauding

Reuters reports growing public unease with AI as high-profile speeches at university graduations are met with boos, reflecting wider anxieties among Gen Z. The article highlights tangible market effects: banks and tech firms are cutting staff as they lean on AI for efficiency — Standard Chartered will cut over 7,000 jobs, Meta plans a 10% global layoff, Amazon has cut about 30,000 corporate roles and Block (Square) recently pared staff. Gallup data show nearly half of Gen Z view AI risks as outweighing benefits. The story signals potential near-term headwinds for tech-sector employment, investor sentiment and regulatory scrutiny that could weigh on the US Tech 100 and related equities.

Category

US Tech 100

Sentiment

Bearish

Event

Market commentary

Reading time

1 min