US markets are expected to open lower as trading resumes following the Presidents’ Day holiday on Monday. Futures tied to the S&P 500 are currently down 0.4 per cent. The Nasdaq is indicating a steeper decline, with futures down 0.8 per cent, while Dow Jones futures are showing a decrease of 0.3 per cent. These figures suggest a cautious start to the trading week after the holiday break.
Wall Street is coming off a losing week, adding to investor unease. The S&P 500 extended its decline as market participants expressed concerns about artificial intelligence and its potential disruption across various sectors. Real estate, trucking, and financial services are among the industries that have seen downward pressure due to these concerns.
Over the course of the previous week, the S&P 500 and the Dow Jones Industrial Average each experienced declines exceeding one per cent. The technology-heavy Nasdaq Composite fared worse, dropping more than two per cent, highlighting the vulnerability of tech stocks amidst the broader market apprehension regarding AI’s growing influence.
