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Andrew Ross Sorkin on worrying similarities between Wall Street today and 1929's pre-crash market
Andrew Ross Sorkin cites AI-driven market surge and loosening regulations as key factors creating a fragile environment similar to 1929, with major indexes up 7% to 15% this year.
- Andrew Ross Sorkin expressed concern that Wall Street is racing towards a stock market crash similar to 1929, saying, "I'm anxious that we are at prices that may not feel sustainable."
- Sorkin indicated that the economy might be artificially supported by the AI boom and warned that this could lead to unsustainable stock prices.
- Despite recent market highs and significant increases in major indexes, Sorkin noted that factors like increased debt and speculation exist, raising risks for investors.
- Sorkin believes the decrease in investment regulations may expose more ordinary investors to risky financial products reminiscent of the 1929 crash.
13 Articles
13 Articles
Is a financial market crash around the corner?
It feels like old times, but not in a good way. Financial experts around the world are warning of an impending 1929-style financial market crash brought on by trade wars, large national debts and overbuilding in the AI sector.“We will have a crash,” financial journalist Andrew Ross Sorkin told CBS News. Sorkin is promoting a new book, “1929: Inside the Greatest Crash in Wall Street History — and How It Shattered a Nation,” about the market colla…
Financial expert sees disturbing parallels between Trump era and 1929 Wall Street crash
It was 96 years ago, in October 1929, that the Great Depression got underway with an historically severe Wall Street crash. Between "Black Thursday" (October 24, 1929) and "Black Tuesday" (October 29, 1929), a record 29.3 million stock shares were dumped in massive selloffs on the New York Stock Exchange.Many economists, both left and right, believe that the Smoot-Hawley Tariff Act of 1930, signed into law by President Herbert Hoover, made the f…
Andrew Ross Sorkin Sees Parallels to 1929 Everywhere He Looks
When the New York Times financial reporter set out to write about the economic climate that led to the Great Depression, he found a cast of characters that seemed, depending on your point of view, distressingly familiar.
Times of India
The Economic TimesAndrew Ross Sorkin warns stock market crash echoes 1929 Wall Street patterns, AI bubble concerns mount
Financial journalist Andrew Ross Sorkin has spent nearly a decade analyzing the 1929 stock market crash and identifies troubling parallels between Wall Street conditions then and market dynamics today. Sorkin's research, detailed in his forthcoming book "1929: Inside the Greatest Crash in Wall Street History, and How It Shattered a Nation," releasing October 14, examines how record market highs preceded the Great Depression.
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