Following warnings to gradually slow down the development of artificial intelligence, the Dow Jones fell by 152.09 points, the S&P 500 dropped 37 points, and the Nasdaq declined by 146.62 points on Monday. Anthropic’s CEO Dario Amodei and OpenAI’s Sam Altman expressed the need for caution due to safety concerns associated with AI development. Meanwhile, Brent crude oil rose 1.02% to $105.68 amid Middle East tensions, and there is an 88% probability of an interest rate hike by the US Federal Reserve. New York, September 16 (Reuters/Xinhua).
US stock market indices experienced declines on Monday after senior industry figures warned about the necessity to slow down the pace of artificial intelligence (AI) technology development. The public caution regarding rising safety risks linked to AI surprised investors expecting rapid commercialization and significant investment. On Monday, the Dow Jones Industrial Average fell 152.09 points (0.29%) to close at 52,421.20, the S&P 500 index dropped 37 points (0.48%) to 7,619.98, and the tech-heavy Nasdaq index decreased by 146.62 points (0.56%) to 26,186.41.
Selling pressure in the technology sector led eight of the eleven major sectors in the S&P 500 to close in the red on Monday. The technology sector dropped 1.67%, while the industrial sector declined 1.44%. Conversely, the communication services sector surged 2.79%, becoming the best performing sector, and the healthcare sector rose 1.35%. The primary driver behind the selling pressure on tech stocks is the new concerns related to the development and commercialization of artificial intelligence.
