单一个股跌幅最深者集中在商业不动产服务领域：CBRE Group Inc. 周四下跌 8.8%，使其 2 日跌幅扩大至 20%，并被形容为自 2020 年以来最糟的此类走势；Jones Lang LaSalle Inc. 下跌 7.6%；Cushman & Wakefield Ltd. 下滑 12%；Newmark Group Inc. 下跌 4.2%。追踪办公不动产公司股票的某项指数下跌 4.2%，被点名的主要下跌者包括 SL Green Realty Corp.、Cousins Properties Inc.、Kilroy Realty Corp. 与 BXP Inc.。分析师表示，周四的疲弱反映出恐惧从券商与服务公司「回流外溢」到更底层的办公空间供给方。
策略师与分析师认为，投资人正在迅速重新定价颠覆风险；其中一种观点将市场形容为「ready fire aim」，也就是即便只是小幅获利不及预期，也可能在对 AI 驱动变革的普遍忧虑下引发剧烈反应。据报导，在 Anthropic 于 2026 年 2 月 3 日推出新工具后，担忧加剧；而抛售被描述为在过去几周轮动，从软体制造商转向私募信贷、保险公司、财富管理机构、不动产服务与物流公司。较为警惕的解读是，价格正在折现大规模使用办公室的工作流失的可能性；但相对的观点警告，近期下跌幅度之大可能是膝反射式反应，过度高估了对办公需求的实际风险。
Commercial real estate and office-focused stocks fell for a 2nd day on Thursday as traders worried that wider use of artificial intelligence could reduce demand for office space, extending a selloff that started Wednesday in a small pocket of the market. The move is being framed by analysts as part of an “AI scare trade,” with fear spreading from intermediaries to companies that own or rely on physical office demand. A Bloomberg note accompanying the moves says the data are normalized with percentage appreciation as of January 2, 2026, and the snapshot is as of Thursday’s close.
The steepest single-name declines were concentrated in commercial real estate services: CBRE Group Inc. dropped 8.8% on Thursday, taking its 2-day decline to 20%, described as its worst such move since 2020; Jones Lang LaSalle Inc. fell 7.6%; Cushman & Wakefield Ltd. slid 12%; and Newmark Group Inc. lost 4.2%. An index tracking stocks of office real estate companies fell 4.2%, with major decliners cited including SL Green Realty Corp., Cousins Properties Inc., Kilroy Realty Corp., and BXP Inc. Analysts said Thursday’s weakness reflected fear “spilling back over” from brokers and services firms to the underlying office space providers.
Strategists and analysts argue investors are rapidly repricing disruption risk, with one view characterizing markets as “ready fire aim,” where even modest earnings misses can trigger sharp reactions amid broad fears of AI-driven change. The worries have reportedly intensified after the rollout of new tools by Anthropic on February 3, 2026, with selling described as rotating over the past couple weeks from software makers to private credit, insurers, wealth managers, real estate services, and logistics firms. A more alarmed interpretation is that prices are discounting the possibility of large-scale office-using job losses, while a counterpoint warns the recent magnitude of declines could be a knee-jerk response that overestimates the actual risk to office demand.