All three major US stock indexes open lower, with the Nasdaq down 1.2%

The three major US stock indices all fell at the market open: the Dow Jones dropped 0.2%, the S&P 500 index fell 0.7%, and the Nasdaq declined 1.2%. AI giants are calling to slow down development, leading to a drop in AI chip stocks. Nvidia (NVDA.US) fell 3.3%, Intel (INTC.US) dropped 7%, and AMD (AMD.US) declined 5.2%. Micron Technology (MU.US) slipped 6.7%, SK Hynix (SKHY.US) dropped 7.1%, and SanDisk (SNDK.US) fell 5.8%. Oracle (ORCL.US) fell 5.2%, with reports stating the company has initiated a new round of layoffs.