Last week, the stock market was rattled by concerns over AI disrupting multiple industries, leading to a sell-off in software, wealth management, transportation, and logistics stocks. The S&P 500 and Nasdaq Composite both ended down more than 1%, with Financial Services, Consumer Discretionary, and tech stocks taking a hit. Shares of C.H. Robinson and Universal Logistics plummeted after a Florida-based company announced a new tool to scale freight volumes without increasing headcount. The fear of automation impacting high advisory fees also led to a drop in wealth management stocks like Charles Schwab and Raymond James. Despite the sell-off, some Wall Street analysts believe the market is overreacting, with Innovator Capital Management’s chief investment strategist Tim Urbanowicz cautioning that more industries could be disrupted by AI. On the bright side, UBS strategists recommend looking beyond tech to capture the potential benefits of AI in industries like financials and healthcare.

Read more at Yahoo Finance: Wall Street weighs recent stock sell-off over disruption fears