Bank stocks crashed by $22 billion after AI access scare
Photo: Protos
JPMorgan alone lost over $7 billion by the open of trading yesterday, and Wells Fargo wasn’t far behind at $4 billion. Unfortunately, customers have started handing their passwords and other login credentials to AI. Even though most banks forbid this, investors were nonetheless spooked by bots attempting to initiate real cash transfers. Axios also reported that some agents appeared to act without a matching customer instruction, including enterprising agents who tried to contact banking call centers. Although stock prices recovered some of the early losses by close of trading yesterday, losses lingered.
Source: Protos
