Shares of banks and other financial institutions fell amid concerns about the implications of consumer-oriented artificial-intelligence agents.

Among the uses of digital assistants would likely be savings on bank charges.

Shares of consumer-oriented banks such as JPMorgan, Wells Fargo and Bank of America fell sharply. Similarly, insurers such as Progressive and Prudential Financial declined.

SoFi Technologies started settling card transactions using its own stablecoin, in what it said was new territory for U.S. banks.