Forget AI, debt has become the main character on Wall Street as markets just now decided that it’s gotten out of control after years of warnings  | Fortune0

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• August 22, 2026

The enormous mountain of debt hanging over the economy has overshadowed the AI boom as the center of attention on Wall Street. For years—decades even—the spiraling trajectory of U.S. debt fueled dire warnings, which investors consistently brushed off as low borrowing costs helped turbocharge epic stock gains. Meanwhile, the debt pile galloped higher, interest costs