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US stocks fall on AI and oil concerns
Recently, U.S. stocks were slightly affected by a decline due to concerns related to artificial intelligence and rising oil prices, especially with calls to slow down the development of AI models due to safety risks. The S&P 500 index decreased by 0.3%, and the Nasdaq by 0.2%, with larger drops at the lowest points of the session, as shares of AI companies such as Nvidia and Intel fell by up to 6%. Meanwhile, oil prices rose after Saudi Arabia closed a major pipeline crossing the Strait of Hormuz, leading to increased futures for Brent and West Texas Intermediate (WTI) crude oil to over $100 and $105 per barrel. This had a negative impact on major market indices, particularly the Dow Jones, which experienced its largest weekly loss since March. Market observers expect the Federal Reserve to raise interest rates by nearly 90% at its upcoming meeting, amid the 10-year U.S. Treasury yields reaching their highest level since October 2023.
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