Tech shares including Marvell and Intel lead a global selloff as AI safety concerns collide with rising oil prices and geopolitical tensions in the Strait of Hormuz.
South Korea's Kospi fell 3.26% as global tech rout hit Asian markets.
WTI crude surged 3% above $103 after Saudi pipeline closure and drone strikes.
Brent crude rose past $108 on supply disruption fears.
Marvell Technology plunged 7% as AI leaders called for a development slowdown, hitting chip stocks.
Nasdaq-100 futures fell 1.5% as tech stocks declined on AI concerns.
Nvidia stock fell 2% in premarket trading amid AI safety concerns and calls for slowdown.
Broadcom shares dropped 3% as part of a broader chip selloff on AI slowdown fears.
Intel fell 5% amid a semiconductor sector decline triggered by AI safety concerns.
S&P 500 futures dropped 0.6% amid broad market weakness.
Nikkei 225 declined 0.81% amid AI-driven tech weakness.
FTSE 100 rose 0.7% as energy stocks gained on higher oil prices.
Dow futures edged lower by 0.2% as markets faced pressure from tech selloff and oil prices.
Europe's Stoxx 600 slipped 0.3% as global markets reacted to AI and oil developments.
BP shares rose, providing a boost to the FTSE 100 as energy stocks benefited from rising oil prices.
Shell shares advanced, lifting the FTSE 100 amid higher crude oil prices.
Global markets face a dual headwind as tech stocks retreat on calls for an AI development pause and energy prices surge. Nasdaq-100 futures fell 1.5% following warnings from industry leaders, while WTI crude climbed 3% above $103 per barrel after supply disruptions in the Middle East.
Tech stocks are falling due to safety concerns raised by AI industry leaders, who are advocating for a slowdown in the development of the most powerful AI models.
Oil prices are rising due to supply disruption fears following the closure of a critical Saudi pipeline after drone strikes in the region.