2 hrs ago
Nasdaq Futures Slide as AI Concerns and Oil Prices Rise
Stock futures started the week lower, especially for technology companies.
Nasdaq futures, which include many AI and semiconductor companies, fell the most.
Leaders at OpenAI and Anthropic warned that advanced AI is developing quickly and may need stronger safety checks.
OpenAI said it will focus on safety and will not go public this year.
Anthropic is reportedly preparing for a possible Nasdaq listing.
Oil prices rose after Saudi Arabia temporarily shut an important pipeline following attacks.
Investors are also expecting the Federal Reserve to raise interest rates.
This expectation grew after core consumer prices rose more than economists predicted.
Other economic reports, including retail sales and industrial production, are due later in the week.
Nasdaq futures fell roughly 350 to 400 points, while Dow futures declined 150 to 200 points and S&P 500 futures dropped 40 points.
AI executives Dario Amodei and Sam Altman backed additional safeguards and caution around developing advanced AI models.
OpenAI said it will not go public this year, while Anthropic reportedly selected Nasdaq for a potential listing as soon as next month.
Brent crude rose 3% to about $108 a barrel after Saudi Arabia shut its East-West pipeline following attacks.
Markets are also awaiting the Federal Reserve’s interest-rate decision after stronger-than-expected core consumer inflation raised the probability of a rate hike to 87%.
- Who
- US stock investors, AI executives Dario Amodei and Sam Altman, Saudi Arabia, and the US Federal Reserve are central to the developments.
- What
- US stock futures declined, AI leaders called for stronger safeguards, oil prices increased, and expectations for a Federal Reserve rate hike rose.
- Where
- The market moves involve US exchanges and futures, while oil-market developments involve Saudi Arabia and Iran-related regional diplomacy.
- When
- Trading resumed after the weekend; the Federal Reserve decision is expected later this week, with additional economic data due during the week.
- Why
- Futures were pressured by concerns about advanced AI development, expectations of higher interest rates, and geopolitical disruptions affecting oil supplies.
AI caution and safeguards
Continued AI development and expansion
Pace of advanced AI development
AI caution and safeguards
Anthropic CEO Dario Amodei called for the industry to slow development of the most advanced AI models and proposed independent third-party evaluations and additional safeguards.
Continued AI development and expansion
The article also describes continued commercial expansion, with Anthropic reportedly preparing for a possible Nasdaq listing as soon as next month.
Public listing plans
AI caution and safeguards
OpenAI said it will not go public this year while it focuses on addressing AI safety concerns.
Continued AI development and expansion
Anthropic has reportedly selected Nasdaq for a proposed listing, potentially as soon as next month.
Key facts
- Nasdaq futures
- Down approximately 350 to 400 points
- Dow futures
- Down approximately 150 to 200 points
- S&P 500 futures
- Down approximately 40 points
- Brent crude
- Up 3% to about $108 per barrel
- Core CPI
- Rose 0.3% month over month in August, versus a 0.2% estimate
- Rate-hike probability
- Increased to 87% from just over 70%
- US 10-year bond yield
- Trading around 5%, a level it has not closed above since 2007
Quotes
Elon Musk
Tesla and SpaceX founder who commented on X about Dario Amodei’s AI-safety proposal
“Dario is right.”
CNBC TV 18
Sources
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