Major technology stocks fell in premarket trading after AI leaders, including Anthropic CEO Dario Amodei, called for a slowdown in AI development. Intel slid nearly 6%, Marvell fell over 7.4% and Advanced Micro Devices slipped over 5%. Conversely, the energy sector advanced as oil prices rose amid tensions in the Middle East, pushing the State Street Energy Select Sector SPDR ETF (XLE) up more than 1.2%. Cybersecurity stocks gained, with CrowdStrike rising 5.4% and Palo Alto Networks climbing over 4%, as investors grew concerned about AI safety following warnings from Elon Musk, Dario Amodei and Sam Altman.
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