This content was published on
September 14, 2026 - 01:22
6 minutes
(Bloomberg) — US equity-index futures retreated after major artificial intelligence companies called for a slowdown in the technology’s development, raising concerns about a sector that has powered this year’s stock rally. Oil advanced.Futures on the tech-heavy Nasdaq 100 Index declined over 1% and contracts for the S&P 500 Index fell 0.5%. Semiconductor makers and other AI-linked stocks may face the most pressure initially on Monday, while investors assess whether a more cautious approach to developing advanced models will crimp earnings.Meanwhile, Brent crude rose 2.8% to $107.55 a barrel after Saudi Arabia shut a key oil pipeline following drone attacks and a planned meeting between Iran and Gulf states was postponed. Oil had fallen Friday, helping fuel a Wall Street rally despite hotter-than-expected US inflation that strengthened bets the Federal Reserve may raise interest rates this week.Bets for a rate hike sent Treasury yields higher on Friday, with two-year yields climbing four basis points in New York and 10-year yields edging closer to the key 5% level.South Korean and Japanese chip and technology companies — seen as the picks and shovels of the AI boom — will be in focus as investors assess whether the weekend’s warnings may translate into slower corporate spending and challenge earnings expectations across the supply chain. The scrutiny kicks off a pivotal week for traders, with a Fed meeting ahead and higher oil prices reviving inflation concerns and keeping borrowing costs elevated.“It could be a very interesting start to the week with investors evaluating how much a significant change of strategy at the top of some of the biggest AI firms will affect valuations,” said Nick Twidale, chief market analyst at AT Global Markets in Sydney. “Would think that some of the Asian big tech names that supply some of these big names will be the first to be hit.”Anthropic PBC Chief Executive Officer Dario Amodei said Saturday that the company would introduce additional safeguards, including independent third-party evaluations, and urged the broader industry to slow the development of its most advanced models. OpenAI CEO Sam Altman backed the proposal, while xAI’s Elon Musk said “Dario is right.”US President Donald Trump downplayed the growing alarm over AI risks with questions arising over how committed industry leaders will be to slowing development of their most advanced — and lucrative — models amid intense competition from Chinese rivals.The debate adds to scrutiny of the billions being poured into AI and whether earnings can justify soaring infrastructure costs. High-valuation shares remain vulnerable to signs of weaker returns or slower spending, though some investors expect any pullback to be short-lived as demand for computing infrastructure remains strong.“Until any need for slowing in development translates into capex guidance cuts or delayed model releases, this is likely a sentiment driver not a valuation or earnings driver,” said Kerry Craig, a global market strategist at JPMorgan Asset Management.Elsewhere, the key focus this week is on the Fed, which is due to announce its decision Wednesday. Three decisions, starting with the Fed and followed on successive days by policymakers in the UK and Japan, could reshape the global monetary policy outlook for the rest of 2026 and beyond.The US consumer price index, excluding food and energy, rose 0.3% in August from a month earlier, according to Bureau of Labor Statistics data out Friday. On an annual basis, it advanced 2.4%. Overall consumer prices rose 0.4% from the prior month on higher energy prices, and 3.4% from a year earlier.With oil emphatically above $100 a barrel again and the Middle East war apparently reigniting, any hope among policymakers for a respite in global price pressures seems faint for now. US inflation is likely to remain the more immediate test for markets after data showed faster-than-expected price growth, reinforcing expectations the Fed may hike rates Wednesday.“September’s FOMC is getting very live now at 90% priced in for a hike,” said Martin Whetton, head of financial markets strategy at Westpac Banking Corp. “Treasuries finished higher in yield for the most part on Friday after the CPI print, and will continue to set the tone for fixed income markets in Asia today.”Corporate Highlights:Anthropic PBC has picked Nasdaq as its listing venue ahead of a potential record-setting initial public offering, according to a person familiar with the matter. OpenAI won’t go public in this year as the artificial intelligence company focuses on addressing safety-related concerns around the technology, Chief Executive Officer Sam Altman told Fortune in an interview. Chubu Electric Power Co.’s top two executives are set to step down over the falsification of safety data used in regulatory reviews to restart some of its nuclear reactors, according to local media. Some of the main moves in markets:StocksS&P 500 futures fell 0.5% as of 8:15 a.m. Tokyo time S&P/ASX 200 futures rose 0.2% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1591 The Japanese yen was little changed at 153.70 per dollar The offshore yuan was little changed at 6.7090 per dollar The Australian dollar fell 0.1% to $0.7160 CryptocurrenciesBitcoin fell 0.8% to $76,713.23 Ether fell 1.5% to $2,475.17 BondsAustralia’s 10-year yield was little changed at 5.38% CommoditiesWest Texas Intermediate crude rose 2.3% to $102.33 a barrel Spot gold fell 0.2% to $4,340.38 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Ruth Carson.©2026 Bloomberg L.P.
