Stocks fell on Monday as oil prices jumped ahead of a key Fed meeting this week. (BZ=F) crude rose to $109 per barrel, stoking worries of persistent inflation as diesel prices remain above an all-time high of $6 per gallon. Bond yields remained elevated, with the 10-year Treasury (^TNX) just a few basis points away from the 5% threshold. The 2-year yield to 4.64%, signaling that markets expect Fed policymakers to raise rates.
Investor bets that the Federal Reserve will hike rates on Wednesday stood at 80% on Polymarket. Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data. Tech stocks (XLK) declined more than 2% as chip heavyweight (NVDA) led the semiconductor complex lower.
The move comes after AI titans at Anthropic (ANTH.PVT) and OpenAI (OPAI.PVT) have sounded the alarm on the risks to humanity of artificial intelligence. Here are some other notable stocks that Yahoo Finance readers are viewing this morning: AMD (AMD), Sandisk (SNDK), and Nebius Group (SKWS). Click here for the latest stock market news and in-depth analysis, including events that move stocks
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