AI stocks drop on warnings about safety

NEW YORK - Artificial-intelligence stocks slid worldwide Monday after leaders of the industry warned a slowdown is needed for the safety of humanity. Another jump in oil prices, meanwhile, briefly sent the yield of the 10-year Treasury to five per cent for the bond market ’s latest pressure-raising milestone. Despite all the downers for Wall Street, gains for many stocks outside AI helped limit the market’s losses. So did a midday tempering of oil prices, and the S&P 500 fell a relatively modest 0.5 per cent. More stocks rose within the index than fell. The Dow Jones Industrial Average dropped 152 points, or 0.3 per cent, and the Nasdaq composite sank 0.6 per cent after clawing back most of an early loss of 1.3 per cent. AI stocks have been under pressure a while because of worries their prices shot too high in the frenzy around the technology.