Stocks
US Stock Markets Decline Amid Rising Oil Prices and AI Concerns
The Dow Jones Index and its futures (YMMAIN) continued to decline on Monday, following a similar trend in other major US stock markets. The S&P 500 Index (.SPX.US) dropped 0.5% while the Nasdaq Composite Index (.IXIC.US) shed 0.6%, closing at 26,186.41. This decline is attributed to rising oil prices and concerns about artificial intelligence development.
The Dow-30 also saw a significant drop, with Micron (MU), Nvidia (NVDA), and Broadcom (AVGO) experiencing losses due to calls for slowing down AI development for safety reasons. The 10-year US Treasury yield briefly touched 5% as oil prices surged.