Meta's new AI assistant, Muse, has spread rapidly and is already influencing financial markets. According to CNBC, investors worry that autonomous AI agents could eventually automate investment and administrative tasks that today generate significant revenue for brokerages and asset managers.
Share price moves and figures
The largest declines hit Charles Schwab: its shares fell more than 6 percent on Tuesday. LPL Financial's stock dropped nearly 7 percent, while Raymond James fell by more than 3 percent. The broader U.S. financial sector also came under pressure amid these concerns.
Not all brokerages were penalized: Robinhood's stock rose after the company signaled active development of AI-based services. Market responses suggest investors are beginning to distinguish between potential winners and losers from the AI shift.
What risk is the market pricing in?
Muse does not yet trade autonomously on users' behalf, but the rapid market reaction indicates investors are already pricing in the longer-term possibility that autonomous AI agents could displace human labor and services in financial intermediation. That could put strain on traditional intermediaries' business models and profitability.
Why this matters
The spread of AI agents could bring structural changes to financial services: demand for certain administrative and analyst roles may fall, and cheaper customer-service or advisory solutions could emerge. The market's behaviour shows investors are positioning for which firms can adapt to or benefit from these technological shifts.
Related event: Portfolio Investment Day 2026
On October 21, the Portfolio Investment Day conference will address related questions, including how long the AI rally might last, which companies could be winners in coming years, and what to expect across equities, bonds, commodities and crypto markets.
Notes on the coverage
This article is based on reporting by CNBC; statements about Muse's capabilities and market reactions reflect information reported by that source. This article does not constitute investment advice. An AI assistant contributed to preparing this story; the final content was edited and verified by our journalist.
Tags: stocks, equity, artificial intelligence, business model, automation, brokerage, Robinhood, financial sector, AI agent
