Treasury Secretary Scott Bessent told the Financial Times that the AI surge is not a systemic threat to the economy. He made the comment as tech stocks fell on fears that AI spending may not deliver returns. Meta’s shares dropped after the company reported negative free‑cash flow, and Alibaba fell 6% as China’s market turned bearish. Blackstone’s Jon Gray also warned against comparing the current AI hype to the 1990s dot‑com bubble.
Why it matters
Investors see reassurance from a top regulator that AI growth is not expected to destabilize the broader economy.
