I recently noticed a quite interesting story about market reactions to AI. On February 23rd, major credit card companies like Visa, Mastercard, American Express, and Capital One experienced a significant sell-off. Visa dropped 4.4%, Mastercard lost 6.3%, American Express fell 7.9%, and Capital One even declined by 8%. The cause was a report from Citrini Research expressing concerns that AI could automate transactions and potentially replace traditional credit cards with stablecoins.

But what's fascinating is that just one day later, The Kobeissi Letter offered a completely different perspective. They argued that AI could actually enhance consumers' purchasing power by reducing costs, rather than causing harm. This viewpoint seemed to shift market sentiment. By February 24th, credit card stocks had stabilized, with some showing positive signals. Visa, Mastercard, and American Express remained steady or slightly increased, while Capital One even recovered about 4%.

Everything indicates that the current market is very sensitive to any stories related to AI. A single report can cause panic, but a balanced viewpoint can also soothe it immediately. This also serves as evidence of the ongoing deep debate about AI's true role—whether it will disrupt existing business models or create new growth opportunities.