MW 'We will have a crash': Why Andrew Ross Sorkin thinks this market bubble will eventually pop

By Mike Murphy

'This is either a gold rush or a sugar rush, and we probably won't know for a couple of years which one it is,' financial journalist tells '60 Minutes'

Andrew Ross Sorkin speaks during the New York Times Dealbook Summit in New York in December 2024.

"We will have a crash; I just can't tell you when, and I can't tell you how deep."

Those are the words of financial reporter and author Andrew Ross Sorkin, who offered a warning to investors during an interview aired Sunday on CBS's "60 Minutes."

Sorkin has a new book out, "1929," about the great stock-market crash nearly a century ago. And he told CBS News reporter Lesley Stahl that he sees some similarities with today's booming market.

"I'm anxious that we are at prices that may not feel sustainable," Sorkin said, noting that we're either in a "remarkable boom" fueled by artificial-intelligence stocks, or else "everything's overpriced."

Sorkin said it's hard to say the market is not in a bubble currently, akin to the dot-com bubble in 2000 and the housing bubble of 2008. But the question is, "when is the bubble going to pop?"

"I would argue to you that the economy is being propped up, almost artificially, by the artificial intelligence boom," he said, according to a transcript. "There are hundreds of billions of dollars that are being invested today in artificial intelligence. This is either a gold rush or a sugar rush, and we probably won't know for a couple of years which one it is."

Adding to his concerns are the removal of regulatory guardrails by the Trump administration, increasing reliance on debt and recent moves to allow private-equity investments in 401(k) retirement accounts.

That combination of factors is what worries him. "It's not that we're going off a cliff tomorrow," Sorkin said. "It's that there's speculation in the market today, there's an increasing amount of debt in the market today, and all of that's happening against the backdrop of the guardrails coming off."

Sorkin said a market crash is inevitable - at some point. "When confidence disappears, it happens like this," he said, snapping his fingers. "The answer is we will have a crash; I just can't tell you when, and I can't tell you how deep. But I can assure you, unfortunately - I wish I wasn't saying this - we will have a crash."

-Mike Murphy

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October 12, 2025 20:32 ET (00:32 GMT)

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