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.
\n\nEarly on in the trading session, the Nasdaq 100 index, which tracks the 100 largest non-financial 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%.
\n\nBut a rally in software and cybersecurity stocks brought major indexes off their lows. By 2 p.m. ET, the Nasdaq Composite had nearly turned positive for the day, and the S&P 500 was down by only 0.3%.
\n\nPresident Donald Trump downplayed the warnings in more than a half dozen posts on social media throughout the day, signaling to investors that the odds were slim of any serious action on these issues at the federal level.
\n\n“AI taking over the World, destroying Humanity, and all other things bad, is a HOAX,” Trump wrote, comparing warnings on AI to the investigations into his ties to Russia and the two impeachments of his first term in office.
\n\nAI “will not be stopped” during his presidency, he wrote.
\n\nStill, shares of Nvidia, the world’s most…
Original source: https://www.nbcnews.com/business