Morning Brew Daily Tech Rout Wipes Away $1.1T & Another ‘DeepSeek’ Moment?
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Mar 11, 2025 The podcast dives into the recent tech stock meltdown, where $1.1 trillion vanished in a flash—leaving investors rattled. Canada’s new prime minister, Mark Carney, aims to tackle U.S. tariffs with economic nationalism. Meanwhile, a groundbreaking Chinese AI, Manus, aims to create a general AI agent, stirring excitement and skepticism alike. The discussion also reflects on COVID-19's lasting impacts, highlighting the rise of remote work while the cruise industry bounces back and the at-home fitness trend fades away.
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Pandemic Anniversary
- Neal Freiman and Toby Howell discuss the 5-year anniversary of the WHO declaring COVID-19 a pandemic.
- They share personal anecdotes about how that day impacted their lives, particularly their work situations.
Stock Market Carnage
- The stock market experienced its worst day of the year, with the Nasdaq plunging 4% and wiping out $1.1 trillion in value.
- This was driven by recession fears, aggressive stock offloading by algorithmic funds, and negative retail investor sentiment.
Economic Uncertainty
- Delta Airlines reported a significant shift in consumer spending and cut their profit guidance, signaling economic uncertainty.
- Tesla's stock plummeted 15%, its worst day since 2020, due to competition, market sentiment, and Elon Musk's political activities.