Arm prices its blockbuster IPO at $51 per share, giving the chip designer a valuation of over $54 bn, with the stock set to debut on Wall Street today. US inflation rises by the most of any month this year while core prices also come in hotter than expected, pushing the Dow to its second straight negative session. It's a close call for the ECB - the central bank weighs up a potential hike that would take rates to a record peak, alongside a likely increase to the regional inflation outlook. And Elon Musk, Mark Zuckerberg and Bill Gates join tech leaders and senators on Capitol Hill to discuss safeguards for artificial intelligence, with the Tesla CEO telling CNBC authorities must get out in front of the technology, warning of “severe consequences” if AI were to go wrong.

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