A Viral Blog Post Sends Wall Street Reeling. Again.

Last week, a financial analyst named Alap Shah was unknown. Today, he’s a name that shaved 800 points off the Dow Jones Industrial Average. The catalyst was a blog post he co-authored with research firm Citrini, titled “The 2028 Global Intelligence Crisis.” The document, a speculative exercise, forecast a June 2028 scenario where AI-driven unemployment spikes above 10%, triggering a market collapse.

The report contained few new ideas. Tech leaders have long warned of AI’s impact on white-collar work. Yet, its confident, prophetic tone struck a nerve in a financial district already on edge. The selloff was immediate, proving Shah’s later observation that markets react “only to the bad stuff.”

The reaction underscores a deep-seated tension. While AI stocks soar, the long-term economic picture remains a blur. Markets are jittery, prone to overreaction. Earlier this month, a report from a tiny firm about AI-optimized truck loading briefly wiped billions from major logistics companies. The Citrini paper faced swift, harsh criticism. Trading firm Citadel Securities dismantled its logic, calling its economic assumptions unrealistic. The report reserved special scorn for companies like DoorDash, arguing AI agents will soon bypass such apps entirely. A DoorDash spokesperson defended the company’s growing AI integrations, while tech analyst Ben Thompson called the report’s economics nonsensical.

Shah promises a follow-up with policy ideas to soften AI’s potential blow. But the market’s temperament was confirmed just hours later. Despite Nvidia announcing blockbuster earnings, its stock fell 5% at the next opening. The pattern is clear: in 2026, Wall Street isn’t evaluating AI’s future—it’s nervously flinching at every shadow it casts.