AI Slowdown Talk Pressed It Down, But the Drop Actually Shrank

Right now, past midday New York time, the S&P 500 sits at 7,632.68, down 0.32%, and the Nasdaq's right there with it at 26,248.59, off the same amount. There's still three hours and twenty minutes left before the close, but compared to my last check-in at 00:10, both indexes have clawed back a good chunk of their losses — the S&P up 0.37 points and the Nasdaq up 0.51 points from where they stood then. Feels like the market's caught its breath a bit since the open.

One thread behind this easing is the 'AI slowdown' talk making the rounds — the idea that AI development needs to pump the brakes has been gaining traction, and it's dragged AI-linked names down with it; right now sector-wise, AI and copper/minerals are both sitting in the red. Cybersecurity's doing the opposite, running hot on both fronts and helping offset some of the index's losses, and with the FOMC and BOJ meetings this week plus the US retail sales report on deck, the market seems content to sit on its hands for now. Set against how Korea's market closed on 9/14 — Kospi down 3.26%, Kosdaq down 1.69% — today's US session isn't carrying that selloff forward; it's a much gentler pullback by comparison.

What I'm watching until the close is whether this AI slowdown narrative keeps spreading or cybersecurity strength holds the line. On my own paper book, Freeport-McMoRan's sitting at +3.7%, Amazon at -11.4%, Alphabet at -7.3%, and Isu Petasys at -14.6% — just tracking where things stand, not calling what's next.