‼️ Banks, insurers, and online travel agencies fell Tuesday on fears that Meta’s new AI agent, Muse, could erode “consumer inertia”—the habit-driven loyalty that sustains these industries. The S&P 500 Financials Index dropped nearly 2% to its lowest close since July.
The selloff coincided with Muse topping Apple’s US App Store charts. The AI agent can handle tasks like emailing and booking via OpenTable by connecting to third-party services, raising concerns it could undercut businesses that rely on customers not switching providers.
