WSJ Your Money Briefing What’s News in Markets: Paramount’s Win, Private Credit Carnage, Block Layoffs
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Feb 28, 2026 A bidding war for Warner Bros. sends Paramount and Netflix shares swinging. A viral memo and AI chatter spark market jitters early in the week. Private lenders face sharp selloffs amid concerns about software debt and dividend cuts. A major tech company slashes jobs by 40% with AI cited as the reason, fueling a surprising stock rally.
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Markets Turned Cautious On AI Risk
- AI optimism has shifted to fear as investors worry about job disruption after a viral memo imagined an AI doomsday for white-collar workers.
- The market reacted: indexes sold off Monday and finished the week modestly down (S&P −0.4%, NASDAQ −1%, Dow −1.3%).
Paramount Prevails In Warner Bidding War
- Paramount won the Warner takeover with a $111 billion offer after Netflix walked away, sparking a bidding resolution described as a win for shareholders.
- Paramount shares jumped 26% and Netflix recovered 22% as fears it would overpay eased after it said Warner was "nice to have at the right price."
Private Credit Vulnerable From Software Exposure
- Private credit is under pressure after defaults and heavy exposure to software firms that private equity bought using private debt.
- Rising AI concerns and dividend cuts pushed shares of KKR, Apollo, and Ares down over 9% this week.