Tech stocks drive US markets higher as bond yields retreat
Wall Street surged, led by the Nasdaq, as falling Treasury yields boosted technology shares and semiconductors.
Anthropic CEO's call for slower AI development and OpenAI's IPO delay sent US stock futures down Sunday.
US equity futures declined sharply on Sunday evening following an essay by Anthropic's CEO Dario Amodei that urged AI firms to reduce the speed of frontier model advancement. The post came just hours before OpenAI's Sam Altman said the company would not go public this year, pointing to comparable safety issues.
On Sunday evening, Nasdaq 100 futures dropped 1.2%. Meanwhile, Dow Jones Industrial Average futures eased by a more modest 0.4%, and S&P 500 futures declined 0.6%. The moves follow a difficult week for the stock market. The Dow recorded its heaviest weekly decline since March. Amodei's piece, called 'We Must Pace the Frontier,' called on AI companies to decelerate improvements in model capabilities.
“We must slow the pace at which we improve the capabilities of AI models.”
— Dario Amodei, in an essay
We Must Pace the Frontier: I’ve written a new essay on why the AI industry should slow down, with a three-part plan for doing so.
— Dario Amodei (@DarioAmodei) September 12, 2026
Anthropic is unilaterally committing to the first of these steps. We’ll provide third-party evaluators with permanent, employee-level access to our…
OpenAI's decision does not eliminate the possibility of an IPO altogether. Last month, CFO Sarah Friar stated that the company still plans to list in 2027 or earlier, CNBC reported. Investors now face additional unpredictability from the sudden consensus among AI executives to decelerate.
No significant earnings or economic releases are scheduled for Monday. Traders therefore have scant information to consider aside from the AI news and the upcoming Federal Reserve meeting. Fed funds futures indicate about an 85% likelihood of a rate increase on Wednesday, according to the CME FedWatch tool. A hawkish outcome from that gathering could exacerbate Monday's initial declines. Separately, the discussion about AI risk has reached the US capital, where legislators are considering demands for stricter regulation. Should the futures losses persist until the market opens, shares of AI companies that propelled this year's advance will be the most vulnerable. Whether the selloff intensifies or moderates by lunchtime could depend on how much weight investors assign to Amodei's caution.
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