On the February 13, 2026 episode of Bloomberg “Daybreak: Europe,” markets were rattled by a new wave of fear over artificial intelligence (AI) disruption, with logistics stocks becoming the latest sector to sell off. The tech-driven rout that began in the U.S. extended into Asian markets, although European equities showed some resilience. Investors flocked to safe havens like U.S. Treasuries and gold ahead of a key U.S. inflation (CPI) report, while oil prices declined due to oversupply concerns and uncertainty surrounding prolonged U.S.-Iran nuclear talks. The mood across global markets was described as dour, with risk aversion dominating sentiment.
A major geopolitical focus was the Munich Security Conference, where European allies pledged $35 billion in new military aid to Ukraine, primarily to bolster its air defenses against intensified Russian attacks on energy infrastructure. The conference highlighted growing European anxiety over the reliability of the U.S. security umbrella, especially after a period in 2025 when the U.S. temporarily halted intelligence sharing and military deliveries to Ukraine. This has triggered unprecedented discussions among European leaders about developing a continent-wide nuclear deterrent, with France and the U.K. currently possessing the only European nuclear arsenals.
The program also explored the rapid evolution of AI’s impact on financial markets. Initially, anything related to AI was seen as positive for stocks, but sentiment has shifted as investors now fear AI tools could dramatically reduce costs and workforce needs across multiple sectors, including logistics and wealth management. This has led to a sharp distinction between perceived winners (AI hardware makers like TSMC and Samsung) and losers (software and service companies), with investors increasingly moving to the sidelines and seeking safety in bonds.
In corporate news, Goldman Sachs’ top lawyer, Kathy Ruemmler, resigned after U.S. Justice Department documents revealed the extent of her ties to the late financier and sex offender Jeffrey Epstein. Ruemmler, who joined Goldman in 2020 after serving as White House Counsel under Barack Obama, had disclosed her dealings with Epstein when hired, but the revelations prompted her departure. Other headlines included Citigroup boosting CEO Jane Fraser’s pay, Anthropic’s massive AI fundraising round, and L’Oréal’s shares slumping after disappointing luxury sales, particularly in Asia.
Finally, the show touched on broader economic and technological themes, such as the rise of quantum computing in Europe and the challenges of balancing public and private capital in emerging markets. The episode concluded with a look at Milan’s transformation into a magnet for the ultra-wealthy, driven by Italy’s favorable tax regime, and ongoing concerns about inflation, central bank policy, and the resilience of global credit markets in the face of rapid technological change.
