All Eyes Set on September FOMC Meet

Major indexes opened lower Monday amid concerns over unregulated AI development and escalating Middle East tensions. AI chip makers like Marvell and AMD fell over 6%, while software security firms gained. Oil prices surged 4% to $104/bbl on geopolitical risks. The FOMC meets Tuesday-Wednesday with an 80% probability of a 25 basis point rate hike, supported by elevated 10-year bond yields near 5%.