⚡ Today in History

On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy, the largest corporate bankruptcy in US history, triggering the global financial crisis. Eighteen years later to the day, Wall Street sold off again — this time over warnings that the artificial intelligence boom could move faster than anyone can control.

Top News

Anthropic's CEO says AI needs to slow down. Trump says he alone can keep it safe. 3,800 WORDS

Citing the risk that AI systems could act beyond human oversight, Anthropic CEO Dario Amodei published a 3,800-word essay on Saturday calling on AI companies to slow how fast they build more powerful models. OpenAI's Sam Altman and xAI's Elon Musk both said within hours that they agreed. President Trump rejected the warning Monday, writing on Truth Social that a strong president is the only guardrail AI needs, and shares of AI-linked chipmakers fell as investors weighed the fallout.

Chip stocks lead a second day of market losses NASDAQ -0.56%

Following Amodei's essay and Trump's rebuke of it, semiconductor shares led a broad market retreat Monday. The S&P 500 closed down 0.48% at 7,619.98 and the Nasdaq Composite fell 0.56% to 26,186.41, while the Philadelphia Semiconductor Index tumbled nearly 6%. Nvidia and Intel each dropped more than 3%, and futures pointed to further losses Tuesday morning ahead of the Federal Reserve's rate decision Wednesday.

Saudi pipeline stays offline, oil pushes toward $108 $107 A BARREL

Iran-backed Houthi forces based in Yemen struck a Saudi military airbase Monday, days after a separate attack knocked out the kingdom's East-West oil pipeline, a route that normally carries about 4 million barrels a day to the Red Sea coast. Brent crude climbed toward $107 a barrel Tuesday, the highest level in months, as traders watched how long Saudi Arabia can keep exporting from storage before the disruption reaches drivers and shippers worldwide.

Supreme Court blocks Trump's mail ballot rules before the midterms 49 DAYS

Responding to a Trump administration push for new screening rules on mail ballots nationwide, the Supreme Court ruled Monday that the plan cannot take effect before November's midterm elections. Two lower courts had already found the Postal Service overstepped its authority, and Justices Samuel Alito and Clarence Thomas dissented. With the vote 49 days away, state election officials can keep mailing ballots under the existing rules.

Widow's Bay and The Pitt sweep the Emmys 14 WINS

In its first eligible season, Apple TV's Widow's Bay took home 14 Emmys Monday night, the most ever for a comedy series in a single year. Actor Matthew Rhys became the first person to win lead-acting Emmys in two categories on the same night, for Widow's Bay and for Netflix's The Beast in Me. HBO Max's The Pitt repeated as best drama series, with Noah Wyle winning lead actor for the second year running.

World

Houthi strikes hit Saudi airbase as pipeline stays shut $107 BRENT

Retaliating for Saudi strikes on Yemen, Iran-backed Houthi forces launched missiles and drones Monday at the Khamis Mushait airbase in southern Saudi Arabia, hitting hangars, radar systems and ammunition stores. The attack came days after a separate strike knocked out the kingdom's East-West oil pipeline, which normally moves about 4 million barrels a day to the Red Sea coast. Brent crude climbed toward $107 a barrel Tuesday with the pipeline still shut and no repair timeline given.

Kim Jong Un pledges more support for Russia's war

In a letter to Russian President Vladimir Putin, North Korean leader Kim Jong Un called Moscow's war against Ukraine "sacred" and reaffirmed his support, according to reports reviewed Tuesday. The message fueled speculation that Pyongyang could send more troops to reinforce Russian lines, more than four years after Russia's full-scale invasion began in February 2022. North Korea has already sent thousands of soldiers to the conflict since late 2024.

Israeli strikes kill two Hamas operatives in Gaza City

The Israeli military said Monday it killed two Hamas engineers, identified as Hassan Ali Abu Nada and Abd al-Rahim Ahmad Khalil Khawa, in an airstrike on Gaza City, accusing the pair of building weapons in violation of the ceasefire that took effect in October 2025. Separately, senior Trump adviser Jared Kushner said this week that Israel's widely criticized strike on Hamas leaders in Doha, Qatar, last year ultimately helped push through the current hostage-and-ceasefire deal.

Bomb kills three Pakistani troops in Balochistan

A separatist group, the Balochistan Liberation Army, claimed responsibility Monday for a roadside bomb that struck a military vehicle in the Tump area of Balochistan, in southwestern Pakistan, killing three Frontier Corps personnel. The group said it also targeted security posts along the Quetta-Taftan trade corridor, a key route linking Pakistan to Iran. Pakistani forces have faced a rise in such attacks across the province this year.

Ebola outbreak in Congo keeps growing in some areas, UN says

United Nations officials told reporters in Geneva this week that the Ebola outbreak in eastern Congo is showing progress in some areas but continues to grow in others, according to UN Ebola coordinator Julien Harneis. Harneis said the epidemic will take months to bring under control. The outbreak has strained health systems already stretched thin by ongoing conflict in the region.

Politics

Supreme Court hands Trump a defeat on mail ballots 49 DAYS

Voting rights groups and a coalition of Democratic-led states sued after the US Postal Service issued new rules in late August requiring special barcodes and a federal database for mail ballots. Two federal judges had already blocked the plan, and the Supreme Court declined Monday to let it take effect before the midterms, with Justices Samuel Alito and Clarence Thomas dissenting. Justice Brett Kavanaugh agreed with the outcome but wrote that the Postal Service likely has the power to impose such rules in future elections, with the midterms now 49 days away.

Trump tells Amodei the only AI guardrail is him

After Anthropic CEO Dario Amodei called for a slowdown in AI development, Trump wrote on Truth Social Monday that his administration has already stopped AI companies from doing harm and needs no outside oversight. Trump named Amodei directly in the post and argued that the government already holds broad regulatory power over AI companies. The exchange marked the president's sharpest public response yet to growing safety warnings from tech leaders.

Speaker Johnson rejects an AI moratorium, calls for a meeting instead

House Speaker Mike Johnson said Sunday that AI company leaders have told him privately they want guardrails but disagree on what those guardrails should look like. Johnson declined to cancel the House's recess to act on AI safety and instead proposed gathering platform providers for a joint discussion, an idea he said he had already raised with Trump. Former Transportation Secretary Pete Buttigieg criticized the response the same day, saying Congress should not wait while AI moves quickly.

Kennedy Center says only Trump can save it

In two board resolutions made public Monday, the Kennedy Center for the Performing Arts said it is in dire financial and physical condition and that only Trump can rescue the Washington, DC institution. Trump has chaired the center's board since early 2025, after replacing its previous leadership. The resolutions did not specify a dollar figure for the repairs needed.

Lawmakers scramble to respond as AI warnings mount

Senator Ruben Gallego of Arizona said Sunday on CNN that Washington's response to AI's risks has not matched the urgency of the warnings, after a former Anthropic researcher resigned earlier this year and said the technology could threaten humanity by the end of the decade. The debate comes three years after tech executives first raised similar warnings to senators in 2023, with Congress still without comprehensive AI legislation.

Markets

Chip stocks lead an AI-linked selloff SEMIS -5.9%

Following Saturday's essay from Amodei and Monday's rebuke from Trump, semiconductor shares led a broad market decline. The S&P 500 closed down 0.48% at 7,619.98 and the Nasdaq Composite fell 0.56% to 26,186.41, while the Philadelphia Semiconductor Index tumbled 5.9%. Nvidia and Intel each fell more than 3%, and futures pointed to further losses Tuesday morning.

Oil tops $107 a barrel on Saudi supply fears

Brent crude rose toward $107.55 a barrel Tuesday and US crude neared $103, extending Monday's gains after the Saudi pipeline outage and fresh Houthi attacks. The 10-year Treasury yield climbed near 5% the same day, a level not seen in years, as investors weighed higher energy costs against the Fed's rate decision, due Wednesday.

Bank of America stock drops on weak dealmaking forecast

Bank of America shares fell more than 5% Monday after CEO Brian Moynihan told investors that investment banking fees would likely fall 10% to 20% from a year earlier, landing between $1.6 billion and $1.8 billion for the third quarter. The bank cited softer dealmaking activity across Wall Street heading into the fall.

Gold slips from record highs as the dollar strengthens

Gold fell about 1.45% to roughly $4,286 an ounce Monday as the US Dollar Index rose 0.43% to 99.55. The pullback followed a run of record highs for gold this year, driven in part by investors seeking safety from Middle East tension and uncertainty over the AI industry's direction.

OpenAI delays its IPO over AI safety concerns

OpenAI CEO Sam Altman told Fortune over the weekend that OpenAI would delay its planned 2026 public offering until the company resolves outstanding questions about AI safety and alignment. The decision followed Amodei's call to slow AI development and adds OpenAI to a growing list of companies pausing major plans amid the safety debate.

Entertainment

Widow's Bay sets a new Emmy record for a comedy 14 WINS

Apple TV's freshman series Widow's Bay won six Emmys during Monday's telecast, bringing its season total to 14 across the ceremony and last weekend's Creative Arts awards. That total set a single-year record for a comedy series, edging past the mark The Studio set a year earlier. The show also won best comedy series and lead actor for Matthew Rhys.

Matthew Rhys wins two lead Emmys in one night

Matthew Rhys took the Emmy for lead actor in a comedy series for Widow's Bay, then won again minutes later for lead actor in a limited series for Netflix's The Beast in Me. No actor had previously won lead-acting Emmys in two categories during the same ceremony. Rhys had already won a drama-acting Emmy for The Americans in 2018, giving him a trophy in three separate lead-acting categories.

The Pitt repeats as best drama, Noah Wyle wins again

HBO Max's medical drama The Pitt won best drama series for the second year in a row Monday, and star Noah Wyle repeated his lead actor win from last year. The show entered the night with 25 nominations, the most of any program, while Pluribus star Rhea Seehorn won lead actress in a separate category.

Jean Smart ties the record for most acting Emmys 8 EMMYS

Jean Smart won her eighth career Emmy Monday for playing Deborah Vance on the now-finished HBO Max series Hacks, tying Julia Louis-Dreyfus and Cloris Leachman for the most Emmys won by a performer. The award marked her fifth win in the lead comedy actress category for the same role. Allison Janney also picked up her eighth Emmy the same night, for The Diplomat, tying the same record in a separate category.

Emmys honor Dolly Parton weeks after her death

Sally Field and Reba McEntire paid tribute to Dolly Parton during Monday's ceremony, weeks after Parton died of cancer at age 80. The Emmys' In Memoriam segment also remembered Rob Reiner and Catherine O'Hara among other performers who died this year, with a musical performance by Noah Kahan.