Stock market today: Dow, S&P 500, Nasdaq slip as chip stocks fall on AI warning

Stock market today: Dow, S&P 500, Nasdaq slip as chip stocks fall on AI warning Grace O'Donnell , David Hollerith and Ines Ferré Updated Mon, September 14, 2026 at 10:07 PM GMT+2 2 min read ^DJI ^GSPC ^TYX ^IXIC CL=F US stocks sank on Monday but pared steeper losses after the two leading frontier artificial intelligence companies called for an industrywide slowdown of AI development . Rising oil prices and bond yields also put pressure on stocks, as the 10-year Treasury ( ^TNX ) yield briefly breached the 5% threshold for the first time since 2023. The 30-year yield ( ^TYX ) also remained elevated at 5.

33% ahead of the Federal Reserve's policy meeting this week. The tech-heavy Nasdaq-100 ( ^IXIC ) pared losses to a 0. 5% decline, after falling by as much as 1.

5% in early trading, as gains in Big Tech stocks offset a sell-off in chip stocks. The Dow Jones Industrial Average ( ^DJI ) and the S&P 500 ( ^GSPC ) slid 0. 3% and 0.

5%, respectively. Tech stocks were under pressure after Anthropic ( ANTH. PVT ) CEO Dario Amodei wrote a 3,800-word essay over the weekend, arguing that AI companies should slow the pace of improving AI models in order to address safety concerns .

Sam Altman, the CEO of rival AI lab OpenAI ( OPAI. PVT ), agreed in a post on X, putting the two AI companies at odds with Wall Street, which has banked on a brisk pace of improvement. Worries about AI safety also led OpenAI to delay its initial public offering until 2027, Altman told Fortune.

Anthropic still plans to list in the fall and has reportedly chosen the Nasdaq for its highly anticipated IPO. Oil prices, meanwhile, continued to climb after Saudi Arabia shut down a key pipeline in the Middle East and as the war in the Middle East spread. Brent crude ( BZ=F ) traded near $106 per barrel.

That sets the stage for the Federal Reserve's policy meeting on Wednesday. Trader bets of a Fed rate hike have spiked to 88% following Friday's consumer inflation report , creating a consensus even as Fed Chairman Kevin Warsh has emphasized that he will not provide forward guidance about the Fed policymaking. LIVE COVERAGE IS OVER 15 updates Mon, September 14, 2026 at 8:07 PM UTC Ines Ferré Dow, S&P 500, Nasdaq close off session lows as oil gains ease, chip stocks fall The major averages ended well off their session lows on Monday after warnings from AI developer leaders sent chip stocks lower.

The tech-heavy Nasdaq Composite ( ^IXIC ) fell 0. 5%, led lower by some of the AI trade's most high-flying chip stocks. Nvidia ( NVDA ) shares fell more than 2%, along with other semiconductor stocks.

The S&P 500 ( ^GSPC ) fell 0. 5%, while the Dow Jones Industrial Average ( ^DJI ) declined 0. 3%.

Oil prices eased off their session highs, while the 10-year Treasury yield also pulled back after briefly topping 5%. Mon, September 14, 2026 at 6:49 PM UTC BofA stock falls over 5% on weaker dealmaking, trading fee forecasts Shares of Bank of America ( BAC ) fell more than 5% on Monday after CEO Brian Moynihan delivered an underwhelming forecast for his bank's quarterly dealmaking fees. Moynihan said investment banking fees are on pace to reach $1.

6 billion to $1. 8 billion in the third quarter, or down about 10%-20% from the $2 billion it earned in the third quarter of last year. The broader investment banking market is on pace to be down roughly 10%, according to Dealogic data.

"We're not as well-positioned in some of the businesses that have more activity," Moynihan said, adding that the deal pipeline remains strong and "part of it is just getting the deals through the system. " Meanwhile, the sales and trading business is poised to be flat from a year ago. Moynihan said Bank of America's financing and prime brokerage activity that boosted results earlier this year cooled as investors pulled back on risk.

In July, the global AI trade faced a sharp unwind as shares of chipmakers and tech giants fell amid mounting scrutiny of their valuations and rising capital expenditures. That move prompted a dramatic unwind the same month by the AI-focused hedge fund Situational Awareness, run by former 24-year-old OpenAI researcher Leopold Aschenbrenner. The CEO was far more upbeat about the bank's more Main Street focused operations.

He said loans and deposits are growing, and net interest income is tracking in line with the bank's expectations. "We feel very good about the underlying US economy," he said, adding that even if the Federal Reserve raises interest rates this week, it should not knock the economy off its current trajectory. Mon, September 14, 2026 at 6:15 PM UTC Grace O'Donnell Why the midterms and China fears will complicate action in Washington to regulate AI Yahoo Finance's Ben Werschkul reports: Pressure is mounting on Washington to make a real effort to tackle the dangers of rapidly developing artificial intelligence, but events on the political calendar are likely to make any debate slow and complicated.

President Trump, for his part, appears to be hardening his position that policymakers should stay on the sidelines. With lawmakers focused on the midterm elections and Trump himself gearing up for a meeting with Chinese President Xi Jinping this month, meaningful action appears unlikely to even be fully debated before winter, though the House is set to vote this week on AI data center costs. "Congress is a deliberative body [and lawmakers] need to catch up," House Speaker Mike Johnson said on Sunday in one of many signs in recent days that any action will be slow.

Read more. Mon, September 14, 2026 at 5:28 PM UTC Grace O'Donnell Sharp pullback in AI capex could have 'recessionary-like impact' on markets: Strategist If Anthropic ( ANTH. PVT ) and OpenAI ( OPAI.

PVT ) do in fact slow the pace of AI development, as they suggested over the weekend, it could present a "relatively big risk" for markets and the economy, according to Schwab Center for Financial Research's Kevin Gordon. Investment in the AI build-out has underpinned the US economy this year, with strength coming from productivity gains and hyperscaler spending on data centers and infrastructure. If a mutual detente in the AI arms race were to take place, and if investment were to slow at a gradual pace while the labor market held up, there could be "a much easier … transmission back from business investment towards the consumer," Gordon told Yahoo Finance.

However, "if it's a sharper slowdown," Gordon continued, "then you probably have a recessionary-like impact. That's just sort of the math of what capex and specifically the AI capex has meant for the broader US economy. " There's additional risk with earnings estimates remaining so high, Gordon said, particularly for the tech sector, which has the "most aggressive forward earnings estimates" of any S&P 500 sector.

Still, he noted, the proof will be in the earnings and economic data. Gordon reminded investors that there have been AI capex scares in markets before that haven't led to a "meaningful" slowdown in investment. Mon, September 14, 2026 at 5:03 PM UTC Jake Conley Oil prices hold above $100 as Trump tries to jawbone market Oil prices maintained their climb above $100 a barrel on Monday as investors priced in a potentially significant loss of supply following the shutdown of Saudi Arabia's key East-West pipeline.

Futures on Brent crude ( BZ=F ), the international benchmark, briefly crossed $109 per barrel before pulling back to $107, maintaining a 2% gain on the session. Contracts on US benchmark WTI ( CL=F ) crested above $104 before stalling at $102, also good for a 2% return. Putting upward pressure on prices Monday afternoon was news that Saudi Arabia had shuttered its East-West pipeline, with no clear timeline for turning it back on.

The pipeline brings oil from the Persian Gulf to the port of Yanbu on the Red Sea, which was loading roughly 2 million to 4 million barrels per day onto vessels in early September. If Yanbu's storage empties, leaving nothing to load, the world could lose roughly 4% of global oil supply , per Reuters, which cited oil market insiders. That pressure was slightly tempered by two comments from President Trump, the first that Iran "wants to make a deal, quickly and badly.

" The news comes as a planned meeting between Tehran and leaders of several Gulf states was called off "in the interest of consensus," per Omani foreign minister Badr Albusaidi. Trump also said Monday that the Ukrainian and Russian governments had agreed to halt strikes on energy facilities in both countries , which have become key targets in the Ukraine-Russia conflict. Ukrainian drone strikes on Russian refineries have proven highly effective at disrupting Moscow's oil sector, prompting a fuel export ban from a nation that at one point provided roughly 10% of the world's diesel exports.

US diesel prices crossed $6 per gallon for the first time on Thursday. Mon, September 14, 2026 at 3:55 PM UTC Jake Conley Trump lashes out at Anthropic's Amodei for calls to slow down AI development President Trump lashed out at Dario Amodei in a social media post on Monday, lambasting the Anthropic CEO for what the president called a "SICK conspiracy going on against AI and Data Centers. " "The only control or 'guardrails' that AI needs is a STRONG AND SMART (High IQ!

) PRESIDENT, and the U. S. A.

has that, in spades! " the president wrote. "The Trump Administration has stopped AI 'people' from doing bad, or potentially bad, 'things,' like Dario (Anthropic!

), who is now pretending to be a 'perfect little angel' - and we will continue to do so! " The president's comments come after Amodei, who has long led the push among AI's top leaders for safety in the technology's development, published an essay over the weekend calling for a coordinated slowdown in the push for stronger frontier models. "I have become convinced that fully addressing the risks requires even more prudence — not just investing in risk prevention, but pacing the rate of capabilities advancement so that risk prevention has time to keep up," Amodei wrote.

"We must slow the pace at which we improve the capabilities of AI models. " Trump has called for the US frontier labs, such as Anthropic and OpenAI, to continue their work on AI models, saying that a slowdown would risk giving Chinese companies an edge. The president is set to meet with Xi Jinping in Washington on Sept.

24. "There is a SICK conspiracy going on against AI and Data Centers, and the only one that is happy about it is China," Trump wrote. "WHOEVER WINS AI, WINS!

We are leading China, and all others, and will continue to do so. " He added that the US has "tremendous CRIMINAL and REGULATORY power over these companies," implying those powers could be utilized if the frontier labs were to intentionally slow down their progress. Read more.

Mon, September 14, 2026 at 3:09 PM UTC Grace O'Donnell 10-year yield hits 5% for first time since 2023 The 10-year yield breached the 5% threshold on Monday, its highest intraday level since October 2023. The 10-year hasn't closed at that level in nearly 20 years (July 2007, to be exact, according to Yahoo Finance data). The 10-year yield is considered the most important rate for the economy, as it affects borrowing costs for consumers looking to buy houses and cars, among other loans.

Read more about how soaring Treasury yields affect savings, investments, mortgage rates, and more. Persistently high oil prices due to the energy supply shock from the war in the Middle East have heightened inflation concerns and led traders to overwhelmingly expect the Federal Reserve to hike interest rates on Wednesday. Mon, September 14, 2026 at 2:30 PM UTC Grace O'Donnell AI fears roil the tech sector — but not the cybersecurity industry The warnings about AI dangers from Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman over the weekend roiled tech stocks on Monday.

Chipmakers took the news that the leading AI labs want to throttle development particularly hard. Nvidia ( NVDA ) shares fell 3%, and the AI titan is reportedly restricting use of Anthropic AI models, per The Information. Marvell ( MRVL ), SK Hynix ( SKHY ), Micron ( MU ), and Super Micro ( SMCI ) fell by roughly 6%, as the heatmap below shows, while CoreWeave ( CRWV ), SanDisk ( SNDK ), Intel ( INTC ), and AMD ( AMD ) were all off by more than 4%.

However, there was one obvious beneficiary from the heightened AI fears: cybersecurity stocks. Shares of Okta ( OKTA ), CrowdStrike ( CRWD ), and Palo Alto Networks ( PANW ) saw significant gains in early trading amid expected demand from enterprises seeking to protect their infrastructure from AI-related attacks. Read more.

Mon, September 14, 2026 at 1:36 PM UTC David Hollerith AI trade moves risk off as oil rises and investors await Fed meeting Stocks opened lower on Monday as investors pulled back on risk. The tech-heavy Nasdaq Composite ( ^IXIC ) fell by 1. 2%, led by some of the AI trade's most high-flying chip stocks .

Investors are grappling with whether the massive AI buildout could slow after AI leaders this weekend called for a temporary curb on frontier model development due to safety concerns . The S&P 500 ( ^GSPC ) fell by 0. 7% while the Dow Jones Industrial Average ( ^DJI ) fell by 0.

2%. Monday's decline continues a rough pattern of weekly starts for stocks. The three major indexes have now opened either mixed or lower for the past six weeks.

A bumpy start to the week for stocks isn't all that new. As of Monday's open, the three major indexes have either begun trading week mixed or down for six weeks straight. Energy price pressure is letting up either as Middle East supply disruption spread to a crucial Saudi pipeline over the weekend.

Brent crude ( BZ=F ) is hovering around $109 per barrel, up over 4% for the last 24 hours. Meanwhile, the 10-year Treasury yield ( ^TNX ) is just below 5% , a level it hasn't crossed since 2023. Traders put odds of the Fed announcing a hike later this week at 88.

5%, according to the CME FedWatch tool, but the central bank's decision is likely closer than those odds suggest . Mon, September 14, 2026 at 1:03 PM UTC Ines Ferré 10-year Treasury yield rises as oil prices jump The 10-year Treasury yield ( ^TNX ) climbed to 4. 97% on Monday, just 3 basis points away from the 5% threshold.

Meanwhile, the 30-year Treasury ( ^TYX ) yield hovered at 5. 35%. Bond yields stayed elevated as Brent crude climbed to $107 a barrel, stoking inflation fears and leading investors to price in rate hikes ahead of the Federal Reserve's policy meeting this week.

Goldman Sachs revised its forecast for this week from no change to a rate hike following Friday's August inflation print . "The report had little impact on our inflation view but pushed market pricing of a hike to nearly 90%, high enough that the FOMC will likely want to avoid the market reaction that would likely follow from remaining on hold," Goldman Sachs' chief economist David Mericle wrote on Sunday night. Mon, September 14, 2026 at 12:21 PM UTC Grace O'Donnell The market says a Fed rate hike is a done deal.

Here's why it might hold steady. Yahoo Finance's Jennifer Schonberger reports: Markets overwhelmingly expect the Federal Reserve to raise interest rates this week for the first time in more than three years — but the decision is likely to be a closer call than investors' bets suggest. "The probabilities in the market seem higher than I would necessarily assign at this point," Loretta Mester, former president of the Cleveland Fed, said in an interview.

Mester pointed to recent arguments by key members of the Fed's rate-setting committee, New York Fed President John Williams and Fed Governor Chris Waller, suggesting that neither is convinced a rate hike is appropriate. However, key inflation data released Friday boosted market expectations for a hike. The Consumer Price Index (CPI) for August showed monthly prices rose 0.

3%, higher than the expected 0. 2%, crossing a symbolic line in the sand drawn by a handful of Fed officials. Since Friday, traders have been pricing in between 85% and 90% odds that the Fed will raise 25 basis points.

Waller has said that if August figures showed cooling inflation — specifically a 0. 2% rise in core prices — he would support holding rates steady. But if inflation came in "hot," he would consider a hike.

"Policy is currently only slightly restricting aggregate demand," Waller said on Sept. 3, "and it may not take much acceleration in inflation to nudge me into supporting tighter policy. " Read more.

Mon, September 14, 2026 at 11:00 AM UTC Grace O'Donnell OpenAI not IPOing until 2027; Anthropic reportedly taps Nasdaq for debut This weekend, we learned more details about the two hottest IPOs the market is anticipating, from Anthropic ( ANTH. PVT ) and OpenAI ( OPAI. PVT ).

First, on Saturday, OpenAI CEO Sam Altman sat down with Fortune and said that the AI startup would not IPO this year, as previously expected. Altman said an IPO would be "ill-timed" due to safety concerns about artificial intelligence (which were magnified in an essay by Anthropic CEO Dario Amodei). OpenAI confidentially filed for an IPO in June but doesn't plan to list until 2027.

Second, Anthropic will follow in SpaceX's ( SPCX ) footsteps by listing on Nasdaq, not the New York Stock Exchange, according to a Bloomberg report. Anthropic is widely expected to file its IPO paperwork in the coming weeks and could list as early as this fall. Anthropic is reportedly hoping to match or surpass SpaceX's IPO size in a year of blistering-hot public debuts.

Mon, September 14, 2026 at 10:00 AM UTC Jake Conley The market gears up for a possible Fed hike on Wednesday Federal Reserve Chairman Kevin Warsh has been very clear about one thing in the first three months of his tenure: He does not want the Fed telegraphing its next move. But investors are pretty firmly convinced they know what's coming anyway. After consumer pricing (CPI) data came in largely in line with estimates on Friday — with so-called "core" CPI slightly hotter than expected on a monthly basis — bets that the Fed will issue a rate hike on Wednesday have spiked to roughly 86% .

The argument is straightforward, according to JPMorgan's chief US economist Michael Feroli: "Simply that core PCE inflation has been above 3% every month this year and has made little recent progress heading towards 2%. " In other words, inflation is too hot, and it's not making progress. Pushing up bets that the Fed will hike is Warsh himself, who took a much more forceful approach in his first Jackson Hole symposium on the Fed's role in taming inflation than he had previously.

Those comments, perhaps intentionally, went toward assuaging market watchers who were concerned after the July meeting about how the new Fed chair views the central bank's role in taming inflation. Read more. Mon, September 14, 2026 at 9:00 AM UTC Grace O'Donnell Good morning.

Here's what's happening today. Economic data: No notable economic data. Earnings calendar: AnaptysBio ( ANAB ); Kestra Medical Technologies ( KMTS ); Dave & Buster's Entertainment ( PLAY ) Catch up on some top stories from over the weekend: Anthropic, OpenAI CEOs call for pacing AI development Anthropic CEO Dario Amodei's bleak AI warning sends the tech community into a tizzy What's behind the AI industry's latest warnings of doom?

Trump downplays AI concerns as CEOs call for slowing technology Larry Ellison cancels $7. 5 billion sale of Oracle stock The truck that put Kia on the map has a luxe new look, and it's still a winner Pay is back on the rise for job switchers, even in low-hire job market Here's who stands to make money from the Anthropic IPO Mon, September 14, 2026 at 8:00 AM UTC Grace O'Donnell The Anthropic-OpenAI pact to throttle AI development Over the weekend, a 3,800-word essay from Anthropic ( ANTH. PVT ) CEO Dario Amodei sent a shockwave through the AI industry.

And when OpenAI ( OPAI. PVT ) CEO Sam Altman agreed, it sent market watchers into a frenzy. "Over the last few months, I have become convinced that fully addressing the risks requires even more prudence — not just investing in risk prevention, but pacing the rate of capabilities advancement so that risk prevention has time to keep up," Amodei said.

"We must slow the pace at which we improve the capabilities of A. I. models.

Progress will still seem fast, and we must make wise use of the time we gain. " "I agree with Dario that we need to pace the frontier," Altman concurred. "This has been a primary topic of discussions we've had at OpenAI in recent weeks.

Committing to having independent evaluators with employee-like access is a great idea, and we will do the same. We'll have more to share soon. The announcements came amid heightened AI safety concerns following two researchers' posts about the dangers of advanced frontier AI models.

Last week, Anthropic researcher Jacob Coxon announced his resignation , saying that AI "could kill us all by the end of the decade" and that Anthropic and OpenAI were not taking that threat seriously enough. The announcements also risk drawing pushback from President Trump and lawmakers, particularly as Anthropic and OpenAI are seen as integral to the US's race with China to dominate the AI industry. "I have concerns that if we don't win A.

I. , we're going to be put in a very bad position," Trump said on Thursday, per the New York Times. Read more.