The Nasdaq sank on Monday to lead a stock sell-off on Wall Street as a Chinese startup rattled faith in US leadership and profitability in AI, taking a hammer to Nvidia (NVDA) and other Big Tech stocks.
The tech-heavy Nasdaq Composite (^IXIC) sank 3.2%, while the S&P 500 (^GSPC) dropped 1.8%. The Dow Jones Industrial Average (^DJI) rose 0.2% on the heels of a winning week for the major gauges.
Markets have been rattled by claims by China’s DeepSeek that its AI assistant uses cheaper…
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