CNBC’s Andrew Ross Sorkin Is ‘Anxious’ Wall Street Is ‘Reliving’ 1929 Market Crash Under Trump

CNBC star Andrew Ross Sorkin said he is “anxious” Wall Street is racing towards a stock market crash like the one that rocked investors in 1929.

Sorkin, who is also a veteran financial columnist for The New York Times, shared his concerns during a “60 Minutes” profile on Sunday.

“I think it’s hard to say we’re not in a bubble of some sort. The question always is, when is the bubble going to pop?” Sorkin said.

He added a moment later: “I would argue to you the economy is being propped up — almost artificially — by the artificial intelligence boom.”

It will take a few years, Sorkin said, to know if the hundreds of billions of dollars being invested in AI is more of a “gold rush” or a “sugar rush.”

Correspondent Lesley Stahl, a little earlier in the interview, asked Sorkin if he was “scared” markets were plowing towards a collapse akin to 1929.

“I’m anxious. I’m anxious that we are at prices that may not feel sustainable. And what I don’t know is, we are either living through some kind of remarkable boom — and part of that is artificial intelligence and technology and all of that — or everything is overpriced.”

Stahl then followed up, “Or we’re reliving—”

“1929,” Sorkin responded, finishing her thought.

His “60 Minutes” segment comes just two days before Sorkin has a new book releasing on the 1929 crash.

It also comes amid a wild year on Wall Street. The three major indexes — the S&P 500, the Nasdaq, and the Dow Jones — have all climbed between 7% and 15% since the start of 2025. There have been some interesting moments, though.

The markets took a big dive in early April when President Donald Trump announced his “Liberation Day” tariff plan; the markets have since rebounded, with the three major indexes all surging between 13% to 32% in the last six months.

Wall Street took a beating on Friday, after the president said he would be slapping a new 100% tariff on China, on top of the 30% tariffs already in place, starting Nov. 1. But the president signaled a full-blown trade war with China will not be happening on Sunday, insisting the United States “wants to help” its global rival avoid a depression.

Investors seemed to be happy about that announcement, with stock futures jumping on Sunday night.

You can watch part of Sorkin’s “60 Minutes” segment above, via CBS.