Meta’s Muse fuels financial-stock selloff as disruption fears spread

Rapid adoption of Meta Platforms’ (META) Muse app revived fears of AI disruption in financial services, contributing to a 2% S&P 500 financial-sector drop and declines of more than 6% at Schwab and LPL Financial.

Charles Schwab and LPL Financial each dropped more than 6% on Tuesday. Raymond James and Ameriprise Financial also declined, while JPMorgan fell 3.42% and Bank of America lost 3.04%.