Nasdaq Futures Plummet as AI Warnings Spark Selloff

Nasdaq futures took a hit on Monday as warnings about the dangers of artificial intelligence (AI) sent shockwaves through markets.

Shares in AI heavyweights, including Nvidia and Amazon, led the decline with Nvidia dropping over 2% in premarket trading. This comes after top US executives called for a slowdown in AI development due to safety concerns.

The warnings were issued by Anthropic CEO Dario Amodei, Elon Musk, who runs xAI, and OpenAI CEO Sam Altman, who all agreed that the pace of AI model capabilities needs to be slowed down.

This move comes after billions of dollars poured into AI have powered a stratospheric rise in some technology and semiconductor stocks and have been critical to strong equity market gains over the past few years.