Markets retreat as Brent crude jumps 3% toward $106 and AI stocks slide on safety concerns ahead of the upcoming Federal Reserve policy meeting.
Brent crude jumps over 3% toward $106 amid Middle East tensions and supply disruptions.
S&P 500 falls on rising oil prices and sagging AI stocks.
Nvidia falls after Anthropic CEO urges slowing AI development over safety concerns.
AMD falls alongside other AI stocks after Anthropic CEO's essay on AI safety.
Sandisk falls as part of the AI stock decline following Anthropic CEO's safety concerns.
The S&P 500 opened lower on Monday as surging oil prices and renewed Middle East tensions dampened investor sentiment. AI-linked equities including Nvidia and AMD faced selling pressure following safety warnings from Anthropic's CEO, while markets brace for a pivotal Federal Reserve interest-rate decision this Wednesday.
AI stocks are under pressure after Anthropic CEO Dario Amodei published an essay urging the industry to slow the development of frontier models due to safety concerns.
Oil prices are rallying due to fresh attacks on shipping in the Strait of Hormuz and a drone strike that forced Saudi Arabia to temporarily shut its East-West pipeline.