SoftBank inked a $3 billion deal with OpenAI in a joint venture to market OpenAI tech in Japan with its newly-minuted "Cristal Intelligence" suite of tools.

Japanese technology giant SoftBank Group and OpenAI are stepping up their partnership in artificial intelligence, setting up a 50-50 held company called SB OpenAI Japan

The 50-50 joint venture will begin offering the services first in Japan and establish a model for global adoption, the companies said Monday.

THIS IS A BREAKING NEWS UPDATE: (AP) Worries about President Donald Trump’s tariffs are hurting U.S. stocks. The S&P 500 sank 1.7% in early Monday trading following similar losses for markets across Asia and Europe. The Dow Jones Industrial Average fell 557 points, and the Nasdaq composite dropped 2.1%.

The markets recovered some losses after Mexico's president announced a one-month tariff reprieve for her country.

Wall Street's main indexes pared losses on Monday, as U.S. President Donald Trump delayed new tariffs on Mexico after his orders to levy steep tariffs on key trading partners sparked a global scramble to safe-haven assets earlier in the session.