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(Sharecast News) - European shares slipped into the red on Monday with Brent crude climbing above $107 a barrel after Houthi rebels continued to threaten a key Red Sea oil channel, while tech stocks were sharply lower on apocalyptic warnings from artificial intelligence CEOs.
The pan-regional Stoxx 600 was down 0.14% to 638 at 1050 GMT as the Iran-backed Yemeni militia closed in on the Bab el-Mandeb, the vital alternative channel to the blockaded Strait of Hormuz.
Market watchers have priced in a hike of 25 basis points by the Fed on Wednesday at 86% amid concerns about the impact of an energy supply crisis on inflation.
Meanwhile Anthropic boss Dario Amodei called for a slowdown in the development of AI after his firm's researchers said the tech could wipe out humanity by 2030.
His views were echoed by other AI chiefs such as OpenAI's Sam Altman and the far-right owner of xAI Elon Musk. However, critics claimed the move was aimed at getting ahead of potential government regulation.
The comments led to a tech sell-off in Asian markets overnight which spilled over into Europe this morning. Infineon, STMicroelectronics, BE Semiconductor, ASM International and ASML were all down 6 - 9.5%.
Reporting by Frank Prenesti for Sharecast.com
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