New Delhi, Feb. 14 -- "An investment in knowledge pays the best interest," said Benjamin Franklin. But he didn't have to contend with artificial intelligence.

There are many aspects of the recent selloff that are concerning, with anything tangentially threatened by AI getting hit hard. Perhaps the most worrisome, however, is the fact that virtually no knowledge-based company appears to be safe. Software stocks are just the tip of the iceberg, with panic spreading to everything from legal providers to business information, real estate investment trusts, and logistics companies.

"This matters since the main comparative advantage of the U.S. economy and U.S. equity markets has been as a genuine leader in the 'knowledge revolution,'" writes...