New York's three major indexes opened lower on the 14th (local time), watching calls to slow the pace of artificial intelligence (AI; Artificial Intelligence) development and rising oil prices.
The Standard & Poor's (S&P) 500 was trading at 7,619.99 as of 11:10 p.m. Korea time, down 35.08 points (0.47%) from the previous session. The Dow Jones was down 83.95 points (0.16%) at 52,489.60. The tech-heavy Nasdaq fell 191.48 points (0.73%) to 26,143.09.
The decline in New York's three major indexes was attributed to weakness in related stocks after top executives (CEOs; Chief Executive Officers) of major AI developers argued that the pace of AI advancement should be moderated. AI-related stocks fell across the board, including Nvidia (-3.47%), Broadcom (-3.91%), AMD (-5.91%), Intel (-6.29%), and Marvell (-6.69%).
On the 12th, Dario Amodei, CEO of Anthropic, said, "We should slow the pace of performance improvements in cutting-edge models so that AI safety measures can keep up with technological progress." Sam Altman, CEO of OpenAI, Elon Musk, CEO of SpaceX, and Demis Hassabis, CEO of Google DeepMind, also agreed with the view.
High international oil prices are also weighing on stocks. Saudi Arabia said it could temporarily suspend for several weeks the operation of its east–west pipeline that bypasses the Strait of Hormuz due to drone attacks.