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Tech stocks just lost more than $1 trillion in a day—a gothic horror test for the ‘moats’ Warren Buffett taught Wall Street to love — in Fortune
Markets are ushering in a particularly gothic Halloween as the AI trade exposes a crumbling aristocratic pile of early 21st century capitalism. Wall Street has been describing itself in castle-adjacent terms for years. Jamie Dimon has long talked to JPMorgan shareholders about the bank’s “fortress balance sheet.”
