AI Safety Concerns Weigh on US Stock Futures as Oil Prices Surge
US stock futures declined on Monday as investors grew concerned about the safety of artificial intelligence. The Nasdaq fell 1.6%, while S&P 500 futures dropped 0.7% and Dow Jones Industrial Average futures decreased by 0.2%. OpenAI CEO Sam Altman echoed Anthropic's CEO Dario Amodei, calling for a slowdown in AI development to ensure its safety.
The tech sector was hit hard, with Nvidia shares plummeting 2.7%, Intel dropping nearly 6%, and Broadcom, Texas Instruments, and Advanced Micro Devices also seeing declines. In contrast, oil prices rose over 2% as the Houthis intensified their military campaign in the Middle East.
The Houthi rebels captured strategic islands in the southern Red Sea, further tightening control of a major maritime shipping route. Brent crude jumped 2.6% to $107.37 per barrel, and U.S. crude rose 2.3% to $102.39 per barrel.
Investors are also monitoring this week's Federal Reserve meeting, where policymakers may raise interest rates due to persistent inflation concerns. The 10-year US Treasury yield increased to 4.97%, despite the US Treasury Department's efforts to stabilize the bond market through expanded buyback operations.