Stocks Settle Lower as AI Slowdown Fears Weigh on Chipmakers

The S&P 500 Index ($SPX) (SPY) closed down by -0.48% on Monday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.82%. E-mini S&P futures (ESU26) fell -0.46%, and September E-mini Nasdaq futures (NQU26) fell -0.77%. Stock indexes settled lower on Monday, with the Nasdaq 100 falling to a 6-week low. Weakness in chipmakers and AI-infrastructure stocks drove the broader market lower on Monday after leaders of the biggest artificial-intelligence firms proposed slowing the technology's development, raising concerns that efforts to rein in AI could curb billions of dollars in capital spending to build out the technology.