US tech stocks fell sharply on Monday as AI industry leaders called for a slower pace of development over safety concerns. The Nasdaq dropped 1.2%, while the S&P 500 fell 0.8%. Nvidia slid 3.8%, weighing heavily on the market, as Brent crude jumped 3.8% to $108.74.
As the Federal Reserve meeting approaches, Treasury yields are nearing the five percent mark. A notable rise in consumer prices for August has significantly heightened expectations for a rate hike. With traders estimating an eighty-nine percent probability for an increase this week, inflation worries are further intensified by soaring oil prices and a robust jobs report. Meanwhile, the Treasury plans to auction thirteen billion dollars in twenty-year bonds on Tuesday.
Global tech and AI-linked stocks plummeted as investors reacted to growing safety concerns and calls from industry leaders like Anthropic’s CEO to decelerate AI development, threatening the equity rally built on expectations of rapid growth and productivity.
David Swensen emphasizes that emotional biases, such as fear, greed, and performance chasing, often drive poor market timing decisions. Investors should rely on disciplined, long-term strategies and focus on controlling their responses rather than predicting market movements.
GIFT City is emerging as a gateway for Indian investors seeking global exposure, with new fund structures and financial products. The evolving opportunities, regulatory framework and practical considerations around accessing global markets will take centre stage at the ET Alpha Wealth Summit 2.0 in Mumbai on October 8, with experts exploring GIFT City’s growing role.
Axis Capital says faster government divestments could expand India’s investable equity pool, ease valuation pressures and limit foreign outflows. A 15% reduction in government ownership could raise about Rs 6.6 lakh crore while supporting fiscal consolidation and increasing market liquidity.
Nasdaq futures fell as OpenAI and Anthropic leaders urged slower AI development for safety. Investor Michael Burry criticized these warnings, labeling them self-serving hype intended to maintain incumbent dominance, causing market anxiety regarding AI and chip stock valuations.
Bitcoin remained near $77,700 as subdued selling and a tougher macro environment capped its recovery above $80,000. Analysts highlighted the upcoming US Federal Reserve decision, elevated volatility, and key support levels around $76,000 and $71,000. Meanwhile, mixed on-chain and retail sentiment signals suggested caution among crypto investors ahead of key events.
India’s IPO market faces a busy week with 11 mainboard and SME issues opening for subscription. Grey market demand is uneven, led by SS Retail, Jindal Supreme and Hero Motors, while several smaller offerings show no premium. NSE is the week’s largest IPO at Rs 22,561 crore.
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