Commodities
AI Fears and Soaring Oil Prices Send Stocks Plummeting
Stocks are falling across the board today due to concerns over AI slowdown and rising crude oil prices.
The S&P 500 Index is down by -0.65%, while the Nasdaq 100 has dropped to a six-week low, plummeting by -1.48%. E-mini S&P futures are also down by -0.58%.
The slump in stocks can be attributed to proposals from leading AI firms to slow down the development of artificial intelligence, sparking worries that this could curb billions of dollars' worth of capital spending on building out the technology.