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US Tech Stocks Steady as Nvidia Shares Get After DeepSeek Shock
Let’s take stock of what’s happened over the past 24 hours.
As the US stock market opened on Monday, Chinese-made artificial intelligence (AI) design DeepSeek stunned financiers and sank some tech stocks.
Chip-making huge Nvidia shed almost $600bn (₤ 482bn) of its market worth – the biggest one-day loss in US history.
Other tech stocks such as Microsoft, Google-owner Alphabet and Dell Technologies likewise sank – albeit by smaller margins.
A day later, it seems slightly calmer.
Nvidia shares had a mixed start as the US stock market opened, business reporter Nick Edser informs us.
After flip-flopping a little in the first couple of minutes, its value recovered – standing 1.3% higher.
In Asia, the marketplaces in Taiwan, China and South Korea have closed for the Lunar New Year.
But by the end of Tuesday’s trading, 225 index had actually dropped 1.39%, while Hong Kon’s Hang Seng made a small 0.14% gain.
