Tech Stocks Slide as AI Leaders Call for Slower Development, Oil Prices Surge

U.S. stocks fell Monday with the Nasdaq dropping 1.2% as chip stocks slid and oil prices surged above $108 a barrel due to Middle East supply fears. The S&P 500 shed 0.7%, and the Dow Jones Industrial Average declined 0.3%. Nvidia and Broadcom lost 3%, while AMD, Intel, and Marvell Technology posted steeper losses of 5%, 7%, and 8%, respectively. CoreWeave stock dropped 7%. Oil prices added pressure on stocks with Brent crude futures advancing 4% and West Texas Intermediate crude futures gaining 3%.