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IBM's stock fell 13% following Anthropic's announcement of a COBOL programming AI application. Investors are increasingly worried about AI's implications for the economy and job market, with a recent analysis predicting a significant economic crisis influenced by AI automation.

The software sector index has declined by 20% this year, affecting companies like Salesforce and SAP. In contrast, utility stocks have risen by 10% as investors seek stability. Morgan Stanley's MSCI Robotics & AI index remains stable, reflecting high investor interest despite the risks.