Xin Lang Cai Jing·2026-02-11 22:33Group 1 - The core point of the article highlights a significant drop in U.S. real estate service stocks due to concerns over the impact of AI technology on high-labor and high-fee business models, with CBRE and JLL both falling over 12% and Cushman & Wakefield nearly 14% [1] - The decline is seen as part of a broader "AI panic trading," affecting various sectors including software and private equity, with real estate services being the latest to experience rapid capital withdrawal [2][3] - Analysts suggest that the current sell-off may be an exaggerated emotional response, as the direct threat of AI to real estate leasing and capital markets remains limited, with firms like CBRE maintaining significant advantages in data scale and industry relationships [3] Group 2 - The commercial real estate sector is struggling to recover from the pandemic's impact on office demand and rising interest rates, which have severely affected transaction volumes [2] - In response to industry challenges, companies like CBRE and JLL have diversified their business models into property management, asset valuation, and cross-industry investment sales to mitigate cyclical risks associated with traditional brokerage [2] - Some analysts argue that the market's reaction to AI-related risks is overblown, especially given the absence of significant new negative information on the day of the stock declines [2]