Wall Street opens lower as AI slowdown fears weigh

by Alimat Aliyeva

Major stock indexes on Wall Street opened lower on Monday as concerns mounted that the rapid development of artificial intelligence could face a slowdown amid growing unease over its expanding capabilities.

Anthropic CEO Dario Amodei underlined over the weekend that growing risks and cybersecurity incidents warrant slowing the development of AI models. The downbeat sentiment was further fueled by the upcoming Federal Reserve policy meeting this week, coupled with rising oil prices amid uncertainty about crude supply from Middle East.

The Dow Jones Industrial Average fell 0.25%.

The Nasdaq 100 plunged 1.65%.

The S&P 500 declined 0.73%.

The euro lost 0.54% against the dollar, trading at a four-week low of 1.15359.