Dow Slips 0.29% Amid AI Safety Worries, Oil Price Surge
The Dow Jones Industrial Average closed at 52,421.20 on Monday, down 152.09 points or 0.29%, after a choppy session marked by steep losses in technology and semiconductor names.
The index's relatively lighter weighting toward pure-play tech stocks helped cushion the decline, but its constituents still felt the impact of AI-safety warnings from Anthropic CEO Dario Amodei and OpenAI Chief Executive Sam Altman.
A key gauge of the semiconductor sector fell 5.7% as Nvidia and Broadcom slumped sharply, illustrating how the AI-safety narrative rippled through even parts of the market with limited direct exposure.
The decline was also fueled by a surge in oil prices to over $109 a barrel and the US 10-year Treasury yield breaking above 5%, ahead of this week's Federal Reserve meeting.