⚡ MARKET RECAP → On Tuesday, the major averages rose as worries about AI disruption lessened and software stocks recovered.

JPMORGAN EYES AI WORKFORCE TRANSITION → CEO Jamie Dimon says AI will reshape jobs and urges coordinated planning for retraining and redeployment as the bank prepares for slower hiring and evolving roles across its workforce.

🤖 SOFTWARE STOCKS RATTLE ON ANTHROPIC AI → Anthropic’s AI advances triggered a broad sell-off in software, cybersecurity and traditional IT stocks, with IBM posting its worst single-day performance in decades and other major names sliding as markets grapple with the potential for AI to automate core software and security workflows.

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For the week beginning February 23, 2026

🤖 JPMorgan Chase CEO Jamie Dimon warns AI is reshaping the workforce. Dimon told investors and industry audiences that artificial intelligence will eliminate some jobs faster than society can adjust, and that both governments and businesses need proactive plans — including retraining, income support and phased transitions — to help workers adapt.

📉 Workforce shifts are already underway. Dimon said JPMorgan may reduce headcount over the next five years even as the bank grows, and emphasized the importance of redeploying staff into AI-enabled roles so people aren’t left behind by automation.

🔄 His view blends caution with strategy. While AI offers productivity gains, Dimon urged not “putting your head in the sand” and advocated for modern workforce programs that help displaced workers — signaling broader industry pressure to balance efficiency and social impact.

📉 U.S. software and cybersecurity stocks slumped amid renewed AI disruption fears. Shares of major tech names, including stalwart software and security firms, sank sharply after AI startup Anthropic unveiled powerful new tools — most notably Claude Code and Claude Code Security — that can automate legacy code modernization and scan code for vulnerabilities, raising investor anxiety about traditional workflows being upended by AI.

🧨 IBM was the high-profile casualty. International Business Machines suffered its steepest one-day drop in over 25 years, sliding more than 13 % after markets reacted to Anthropic’s claims that its AI can significantly reduce the manual effort historically required to modernize COBOL systems — a core part of IBM’s revenue from mainframe modernization services.

🌍 Other tech and IT stocks also felt the pressure. Indian IT service companies such as Infosys, TCS, and HCL Technologies posted notable declines as investors weighed the broader implications of AI tools on legacy services, while cybersecurity names like CrowdStrike and Zscaler saw double-digit percentage drops amid concerns their business models could face headwinds from more intelligent AI-driven security assistants.

Spirit Airlines plans to slash flights, fleet in bid to emerge from bankruptcy as early as spring (CNBC)

Epstein files: DOJ may have withheld FBI interviews with Trump accuser, Rep. Garcia says (CNBC)

Savannah Guthrie offers $1 million reward for missing mother Nancy Guthrie (CNBC)

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