US futures slide as oil spikes, Fed and Japan watched
US stock futures took a hit on Monday, with Nasdaq futures dropping 1.52% as oil prices surged due to supply worries in West Asia.
S&P 500 and Dow Jones futures also slipped, while investors braced for possible interest rate hikes from the US Federal Reserve and Japan later this week.
OpenAI Anthropic calls hit AI shares
AI shares fell after OpenAI and Anthropic leaders called for a slowdown in AI development over safety concerns.
Meanwhile, Brent crude spiked nearly 3% following attacks on Saudi infrastructure, sparking fears about energy supplies.
Asian markets dropped too (Japan's Nikkei slid 1%, South Korea's index tumbled 3.2%) amid concerns over a slowdown in AI development.
Plus, the US consumer price report on Friday has markets to price in an 86% chance that the Federal Reserve will raise interest rates by 25 basis points on Wednesday and move again by December.