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Yes, it would assuming pension funds have AI/Tech stock exposure.

- A rule of thumb suggested by one study is that every $100 drop in stock market wealth leads, on average, to a $3.20 drop in consumer spending. Under such an assumption, a dotcom-style crash would cut American consumption by about $890bn, or 2.9% of GDP.

It can, but on paper pension funds will invest in long term low risk stonks so an AI crash would only be a minor setback.

In the same way that winning at roulette does.

Is roulette wealth creation and destruction?