FTEC is trading 2.61% down today as Anthropic CEO Dario Amodei, OpenAI CEO Sam Altman, and xAI CEO Elon Musk urged slower AI development over safety concerns.
- Warnings pressured AI-linked chips and infrastructure, including NVIDIA; Nasdaq futures fell sharply before the open.
- The move is sector-led, not FTEC-specific: Nasdaq Composite is down 1.13%, S&P 500 is down 0.70%; technology-heavy shares lead.
- Higher oil prices and rising rate-hike expectations pressured growth-stock valuations.