Stocks Fall as Inflation Concerns Lift Yields; Anthropic Signs $35 Billion Cloud Deal With Lambda

According to CNBC, stocks fell to start September as inflation concerns and rising oil prices pushed bond yields higher in the U.S. and abroad, raising questions about whether the Federal Reserve will lift interest rates later this month. The CME Group FedWatch tool showed about a 66% chance of a rate hike at the Fed's Sept. 16 meeting. The report also said AI startup Anthropic entered a $35 billion cloud-computing deal with Nvidia-backed cloud provider Lambda, with Nvidia supplying chips for the Texas data center and holding the lease. Baird analysts said the agreement could help Nvidia preserve its market share lead over AI frontier labs. Amazon shares fell nearly 2% after news that the company was sued by the Federal Trade Commission and 22 state attorneys general over alleged deceptive and unfair practices in its advertising business.