Nasdaq Futures Drop as AI Slowdown Calls Spur Sell-Off Ahead of Fed Meeting
Nasdaq futures fell sharply on concerns that leading AI companies are advocating for a slower pace of development, which could impact the investment cycle in chip and infrastructure stocks. Anthropic CEO Dario Amodei called for greater coordination among democratic nations and third-party safety evaluations to manage risks from advanced systems. His stance was supported by OpenAI’s Sam Altman, xAI's Elon Musk, and Google DeepMind’s Demis Hassabis. In pre-market trading, chipmakers like Marvell Technology (MRVL), Intel (INTC), and Micron Technology (MU) saw significant declines as investors worried about potential regulatory or industry-led slowdowns. Meanwhile, oil prices rose over 2% after Saudi Arabia closed a pipeline due to security concerns, adding downward pressure on sentiment. The market will closely watch the Federal Reserve’s upcoming rate decision this week alongside new U.S. economic data.
Tickers: $ADI $AMZN $DELL $GOOGL $HPE $INTC $MRVL $MU $ON $SNDK $STX