US Futures Stabilize After Downbeat Session
US stock futures steadied on Tuesday after the major averages came under pressure at the start of the week, weighed down by a selloff in semiconductor stocks amid growing safety concerns in artificial intelligence development. In regular trading on Monday, the tech-heavy Nasdaq Composite fell 0.56%, while the S&P 500 and Dow declined 0.48% and 0.29%, respectively. Anthropic CEO Dario Amodei called for a slower pace of AI development to address risks posed by increasingly capable models, with OpenAI and xAI CEOs Sam Altman and Elon Musk supporting the view. Chipmakers bore the brunt of the selling, including Nvidia (-3.4%), Micron (-5.3%), Sandisk (-5%), AMD (-4.4%) and Intel (-5.6%). Investors also contended with elevated oil prices and rising Treasury yields ahead of an expected interest rate hike by the Federal Reserve this week. Markets are pricing in roughly a 92% probability of a 25-basis-point rate hike by the Fed on Wednesday.
US stock futures steadied on Tuesday after the major averages came under pressure at the start of the week, weighed down by a selloff in semiconductor stocks amid growing safety concerns in artificial intelligence development. 29%, respectively. Anthropic CEO Dario Amodei called for a slower pace of AI development to address risks posed by increasingly capable models, with OpenAI and xAI CEOs Sam Altman and Elon Musk supporting the view. 6%).
Investors also contended with elevated oil prices and rising Treasury yields ahead of an expected interest rate hike by the Federal Reserve this week. Markets are pricing in roughly a 92% probability of a 25-basis-point rate hike by the Fed on Wednesday.