Wall Street Falls as Chipmakers and Yields Drop
Wall Street declined on Monday as artificial intelligence leaders called for development slowdowns, dragging down major chipmakers. Meanwhile, the 10-year Treasury yield briefly surpassed five percent ahead of the Federal Reserve meeting.
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Wall Street fell on Monday as chipmakers tumbled 3.4% and the 10-year Treasury yield briefly surpassed 5%. The benchmark S&P 500 dropped 0.48% to end the session at 7,619.94 points. The retreat followed warnings from top artificial intelligence executives urging a slowdown in industry development.
