Global markets were roiled as AI-linked stocks fell and oil prices jumped. The selloff followed calls by leaders at OpenAI and Anthropic to slow AI development, citing risks to humanity. In the Middle East, attacks on Saudi oil infrastructure and Gulf shipping routes lifted Brent crude by nearly 3%, intensifying worries about persistent inflation. Investors also stayed cautious amid the prospect of U.S. and Japanese interest-rate increases.

Dell CEO Michael Dell is leading a take-private bid for insurance distributor Baldwin Insurance Group through his family office, DFO Management, alongside Sequence Holdings. The group is discussing an offer of $32.50 per share, valuing the deal at about $7.7 billion, a roughly 10% premium to the prior close. Talks are in the late stages. Baldwin, based in Tampa, has recently posted sharp quarterly gains in both earnings and revenue.

Telix Pharmaceuticals said its brain tumour imaging agent Pixclara has received approval from the U.S. Food and Drug Administration, sending the stock up more than 5% on Monday. RBC estimates the U.S. annual market opportunity for the product’s current indication at US$140 million to US$160 million. The broker values the indication at $0.56 to $0.62 per share under different penetration assumptions, citing about 24,000 newly diagnosed glioma cases each year in the United States.

U.S. core CPI rose 0.3% month-on-month in August, coming in hotter than expected and lifting market pricing for a Federal Reserve rate increase in September to about 88%. The data pushed the dollar higher, weighing on precious metals. Spot gold fell 0.2% to $4,339.96 an ounce, while silver dropped 0.8% to $64 an ounce.

Brent crude jumped 2.8% to $107.55 a barrel after Saudi Arabia shut a key oil pipeline following drone attacks. A planned meeting between Iran and Gulf states was postponed, adding to concerns about potential supply disruptions in the Middle East. The moves came as markets weighed the risk of renewed pressure on energy prices.

Nasdaq futures fell nearly 400 points following recent AI-related developments, while Dow futures slipped about 150 to 200 points and S&P 500 futures declined 40 points. Oil prices climbed after Saudi Arabia shut a key East-West pipeline following attacks, sending Brent up 3% to $108 a barrel and pushing WTI close to $103. On the macro front, the U.S. August core CPI rose 0.3% month-on-month, above expectations of 0.2%, while the annual CPI increased 3.4% in line with forecasts.

The dollar was steady on Monday, while the yen held onto recent gains and hovered near a seven-month high as markets awaited this week’s policy meetings from the Federal Reserve and the Bank of Japan. Oil prices, pushed well above $100 a barrel by the six-month U.S.-Israeli war on Iran, have complicated the global interest-rate outlook, Reuters reported. After U.S. consumer prices accelerated in August, traders priced in an 86% chance of a Fed hike this week, with the possibility of another increase later in the year. The euro was at $1.159, sterling at $1.3524, and the dollar at 153.49 yen.

The dollar was steady on Monday, while the yen edged toward a seven-month high as markets prepared for interest-rate decisions from the Federal Reserve and the Bank of Japan this week. Oil prices climbed above $100 a barrel as the prolonged U.S.-Israeli conflict involving Iran kept markets on edge, triggering bond selloffs and reshaping rate expectations. Attention is on the Fed’s decision on Wednesday and a widely discussed possible BOJ hike on Friday, after the European Central Bank raised rates and signaled more to come. The Bank of England is expected to hold rates on Thursday, though the vote is seen as a close call.