Tech stocks slump after AI execs call for industry slowdown
Calls from Anthropic CEO Dario Amodei, echoed by OpenAI's Sam Altman and Elon Musk, for a slowdown in AI development sparked a global tech selloff. The Nasdaq Composite fell 0.6% to 26,186, Nvidia and Micron slid 3.4% and 5.3%, and the PHLX semiconductor index sank almost 6%, its worst day since early July. CBS News
Cybersecurity Stocks Surge as AI Safety Warnings Spark Security Bid: CrowdStrike and Zscaler Jump 12%, Palo Alto Rallies 11%
Pure-play security names caught a sector bid on the reasoning that weekend AI-safety warnings from two frontier-lab CEOs imply a more dangerous threat environment and higher security spending. The CIBR cybersecurity ETF rose just 4% against double-digit gains in the pure-plays, marking the bid as narrow and sentiment-driven. 24/7 Wall St.
Oil Gains as Shutdown of Saudi Pipeline Deepens Energy Crisis
Brent settled at $105.68, up 1.02% from Friday's close, after Saudi Arabia shut its East-West Pipeline, a key route to the Red Sea bypassing the Strait of Hormuz, following multiple attacks. Gains moderated from an intraday rise of as much as 5% amid signs the US may still be seeking a diplomatic resolution with Iran. Bloomberg
Corning Tumbles 12% on $2B At-the-Market Equity Offering; Coherent Sinks 11%, Lumentum Drops 9%, Fabrinet Slides 6%
Corning was the S&P 500's worst performer after disclosing a $2 billion at-the-market equity distribution program that raised dilution concerns, dragging Coherent and other optical-component and photonics suppliers with it. 24/7 Wall St.
| Asset | Close | Chg | % |
|---|---|---|---|
| S&P 500^GSPC | 7,619.98 | -37.00 | -0.48% |
| Nasdaq Composite^IXIC | 26,186.41 | -146.63 | -0.56% |
| Dow Jones^DJI | 52,421.20 | -152.09 | -0.29% |
| CBOE Volatility IndexVIX | 17.10 | +1.26 | +7.95% |
| Brent CrudeBZ=F · 2:30 PM ET settle | $105.68 | +$1.07 | +1.02% |
| GoldGC=F · 1:30 PM ET settle | $4,351.90 | -$57.00 | -1.29% |
| Tenor | Close | Chg | % |
|---|---|---|---|
| 1-MonthT-bill | 3.94% | +1bp | +0.25% |
| 3-MonthT-bill | 4.11% | +4bp | +0.98% |
| 6-MonthT-bill | 4.18% | +6bp | +1.46% |
| 1-YearT-note | 4.37% | +2bp | +0.46% |
| 2-YearT-note | 4.65% | +2bp | +0.43% |
| 5-YearT-note | 4.80% | +2bp | +0.42% |
| 10-YearT-note | 4.97% | +1bp | +0.20% |
| 30-YearT-bond | 5.34% | -1bp | -0.19% |