Trump says US already has tools to regulate AI companies

On Monday, September 14, 2026, global stock markets, especially in the technology sector, experienced significant declines following calls from AI industry leaders to slow down development due to safety concerns. President Donald Trump responded by asserting that the United States already has sufficient regulatory and prosecutorial powers to oversee AI companies, dismissing the concerns as a "sick conspiracy" that would benefit China. The sell-off affected major companies like Nvidia and Micron, and the Australian sharemarket also closed lower. In response, Microsoft unveiled a draft code of conduct for its AI development, emphasizing human control over AI systems.