AI infrastructure stocks slump as S&P 500 slips
US equities fell Monday, with S&P 500 down 0.7% and Nasdaq 100 down 1.7%. AI-safety concerns weighed on chipmakers and infrastructure names, while long-maturity yields stayed elevated ahead of the Fed decision.
US equity indices were lower on Monday as renewed concern over AI-safety risks weighed on the sector, while global yields stayed elevated. 3%. Anthropic CEO Amodei said new AI development should proceed more slowly to help mitigate risks tied to the capabilities of improving models, with loose backing from OpenAI CEO Altman and xAI CEO Musk. 5%.
Long-maturity yields held near recent highs ahead of the Fed's decision this week, with rate traders pricing in a near-consensus 25bps hike. Rejection of talks between GCC states extended tanker-flow halts from the region and put further pressure on energy prices.