Yes, it would assuming pension funds have AI/Tech stock exposure. - A rule of thumb suggested by one study is that every $100 drop in stock market wealth leads

Yes, it would assuming pension funds have AI/Tech stock exposure. - A rule of thumb suggested by one study is that every $100 drop in stock market wealth leads, on average, to a $3.20 drop in consumer spending. Under such an assumption, a dotcom-style crash would cut American consumption by about $890bn, or 2.9% of GDP.