US Stocks Fall on AI Slowdown Fears, Oil Price Surge

US stocks fell on Monday as fears of an AI slowdown and surging oil prices weighed on the market. The S&P 500 and Nasdaq Composite declined 0.7% and 1.2%, respectively, while the Dow Jones Industrial Average dropped 0.3%. Chip stocks were hit hard, with Nvidia, Broadcom, AMD, Intel, and Marvell Technology losing between 3% and 8%. Oil prices surged, with Brent crude futures reaching $108 a barrel and WTI futures clearing $103 a barrel. The Federal Reserve's September policy meeting is set to begin this week, with a decision expected on Wednesday.