NEW YORK — Wall Street is tumbling Monday on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China that can do similar things for much cheaper.
The Standard & Poor’s 500 was down 1.9% in early trading. Big Tech stocks that have been the market’s biggest stars took the heaviest losses, with Nvidia down 11.5%, and they dragged the Nasdaq composite down 3.2%. The Dow Jones industrial average, which has less of…
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https://www.latimes.com/business/story/2025-01-27/wall-street-sinks-as-investors-weigh-china-challenge-to-us-dominance-in-ai
