Stocks fall after AI leaders warn industry should slow down

U.S. equity markets shook off warnings Monday from artificial intelligence CEOs who had called for a slowdown in the pace of developing the revolutionary technology. Early on in the trading session, the Nasdaq 100 index, which tracks the 100 largest nonfinancial companies traded on the Nasdaq exchange, fell as much as 1.8%. The broader Nasdaq Composite index fell as much as 1.3% and the S&P 500 fell almost 1%. But a rally in software and cybersecurity stocks brought major indexes off their lows. By the end of the trading session, the Nasdaq Composite closed lower by only 0.56%. The S&P 500 fell 0.48%. President Donald Trump downplayed the warnings in more than a half-dozen posts on social media throughout the day, signaling to investors that the odds of any serious action on those issues at the federal level were slim.