01/27/2025

Chipmakers Suffer Massive Declines after Exhibit from DeepSeek AI Technology

Wall Street’s superstars are tumbling amid Chinese AI frenzy

Wall Street's superstars are tumbling Monday as a competitor from China threatens to upend the artificial-intelligence frenzy that's helped them make so much money.

The S&P 500 was down 1.6 percent in morning trading and heading for its worst day in more than a month. Big Tech stocks took some of the heaviest losses, with Nvidia down 13 percent, and they dragged the Nasdaq composite down 2.7 percent.

Stocks outside of AI-related industries held up much better, though, and the Dow Jones Industrial Average was down by just 65 points, or 0.1 percent, as of 10:27 a.m. Eastern time. The Dow has much less of an emphasis on tech than the S&P 500 and Nasdaq.

Please select this link to read the complete article from The Associated Press.