Wall Street falls as AI safety warnings hit chip stocks and 10-year Treasury yield tops 5%
Wall Street closed lower on Monday, with Nvidia and other chipmakers dragging the market down after leaders of US AI firms warned about rapid development. The 10-year Treasury yield briefly passed five per cent for the first time since 2023, and traders expect the Federal Reserve to raise rates on Wednesday. Brent crude rose one per cent to US$105.68 a barrel after new strikes on Saudi energy infrastructure.