Rates are due tomorrow, but it's not the only thing weighing on the markets right now. Tech stocks have been under pressure for a second day because of something completely different...

Anthropic's CEO Dario Amodei, in a lengthy essay, called on the AI industry to slow the development of the most advanced models. His call was echoed by Sam Altman from OpenAI and Elon Musk. $NVDA CEO Jensen Huang, on the other hand, dismissed fears of catastrophic scenarios as fabricated.

The debate was sparked last week by the departure of Jacob Coxon from Anthropic, who worked as a leading AI engineer. Coxon criticized companies for insufficient accountability in developing self-improving systems. Evan Hubinger, head of the Alignment Science team, agreed with him and estimated the probability that the technology could wipe out humanity at more than 10%. President Trump, however, rejected calls for regulation.

If you haven't seen how Jensen Huang and Trump called each other live at the conference, I recommend taking a look, it's quite a comedy :)

Semiconductor companies subsequently weakened on Monday, and the Nasdaq was down about 0.2% on Tuesday morning. Cybersecurity, on the other hand, strengthened. $CRWD and $PANW rose more than 13%. They continued this rally today. The broader market, meanwhile, declined.

Everything will be decided tomorrow. The S&P 500 index is at a decision point, whether it will bounce or start a bigger decline.