The story

Stock markets fell sharply Monday after Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman called for slowing AI development due to safety risks. The calls followed warnings from Anthropic researcher Jacob Coxon, who resigned last week and said AI researchers are gambling with our lives and the technology could destroy humanity by the end of the decade. Altman told Fortune magazine Saturday that OpenAI would not go public this year, reversing earlier plans. OpenAI CFO Sarah Friar had said in August the company would go public by 2027 at the latest.

Tech stocks led the decline. The Nasdaq 100 fell 1.27% shortly after the 9:30 a.m. opening bell Monday. Nvidia dropped 2% to 3%, Intel and Micron fell 6%, and AMD declined 5%. In Asia, SoftBank Group, an OpenAI investor, plummeted 11.2% in Tokyo trading. South Korea's SK Hynix fell between 5.3% and 7.3%, while Samsung Electronics dropped 2.8% to 5%. Microsoft posted a provisional code of conduct Monday that would set guardrails on development of future AI models.

The AI concerns added to existing market pressures. Oil prices rose more than 3% after Saudi Arabia shut down a major pipeline that bypasses the Strait of Hormuz following an attack. U.S. crude broke above $100 per barrel last week for the first time since May. The Federal Reserve meets this week, with futures traders pricing in an 86% likelihood of a rate hike, according to CME's FedWatch tool.