Reported 2 days ago
The stock market faced turmoil as the Nasdaq dropped over 3% due to concerns about U.S. leadership in AI following claims from Chinese startup DeepSeek that its technology is more efficient and cost-effective than leading models. Nvidia's shares fell nearly 17%, wiping out a staggering $589 billion in market value, while the Dow gained slightly as investors sought safer assets. As major tech companies prepare for earnings reports, market focus remains on the implications of DeepSeek's claims and upcoming Federal Reserve meetings.
Source: YAHOO