US stocks fall on AI and oil fears

U.S. stocks dipped slightly amid concerns over artificial intelligence development, as several executives from major companies called for slowing down innovation in AI models for safety reasons. This led to declines in tech stocks such as Nvidia and Intel by up to 6%. At the same time, oil prices rose above $100 per barrel after Saudi Arabia shut down a major pipeline, amidst escalating tensions in the Middle East. This pressure on the stock indices contributed to the biggest weekly decline for the Dow Jones since March, amid expectations of an interest rate hike by the Federal Reserve.

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