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AI stocks drop on calls for a global slowdown as Brent oil’s price hits $109

AI stocks drop on calls for a global slowdown as Brent oil’s price hits $109

NEW YORK — Artificial-intelligence stocks are sliding worldwide Monday after leaders of the industry warned a slowdown is needed for safety, while another jump in oil prices is pressuring financial markets.

The S&P 500 fell 0.6%. The Nasdaq composite, which has many more tech stocks, dropped a market-leading 0.8%, while the Dow Jones Industrial Average was down 147 points, or 0.3%, as of 10 a.m. Eastern time.

Despite the losses, more stocks actually rose within the S&P 500 than fell. Oil companies climbed with the price of crude, while stocks of companies that had dropped earlier on worries about AI-powered competitors recovered some of their losses to offset some of the AI industry’s weakness.

AI stocks have been under pressure a…

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