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The Nasdaq Composite plunged over 3% on Monday, led by a 17% drop in Nvidia (NVDA) that wiped out $589 billion in market value. What happened? Chinese AI startup DeepSeek rattled the tech world by claiming its models are cheaper and more efficient than U.S. competitors.
Key Takeaways:
Tech Tumbles: Nvidia, Microsoft, and Amazon took heavy losses, while Apple and defensive sectors like healthcare gained.
Geopolitical Tensions: Trumpās tariff threats and the rise of Chinaās AI startups are fueling market uncertainty.
Big Tech Earnings Ahead: Apple, Meta, and Microsoft report this weekāinvestors will be watching for guidance on AI spending.
Why It Matters:
The AI boom has been a key driver of tech stocks. DeepSeekās claims challenge the high-cost infrastructure model U.S. companies rely on, raising questions about the future of AI profitability and Americaās tech dominance.
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