AI Stocks Plunge After Calls to Slow Development

Global shares fell Monday as AI-related stocks tumbled following calls from Anthropic CEO Dario Amodei to slow AI development for safety reasons. OpenAI CEO Sam Altman backed those calls and confirmed his company will delay its IPO. SoftBank plummeted 10.7%, SK Hynix fell 6.4%, and Samsung lost 4.1%. Oil prices surged over 2% amid escalating U.S.-Iran tensions and Houthi rebel attacks on Saudi Arabia, which shut down a major pipeline. Brent crude rose to $107.28 per barrel. Investors also await a Federal Reserve meeting where rate hikes remain possible as inflation stays above the 2% target.