‘We didn’t see this coming’: Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO

Everything you need to know before you reach the office this morning.

Good morning. On Fortune’s radar today:

• Markets: Red alert over global selloff.
• “We didn’t see this coming”: Economists are eating their job forecasts.
• AI bubble fears are back on the table ahead of Friday’s SpaceX IPO.
• Strip out AI and the growth story cracks.
• “There be dragons”: BofA notes that inflation could surpass unemployment.
• Meet the woman forced out of Goldman Sachs because she baked a lot of elaborate cakes.

This story was originally featured on Fortune.com