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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 hr.
As the US stock market opened on Monday, Chinese-made expert system (AI) design DeepSeek stunned and sank some tech stocks.
Chip-making huge Nvidia shed nearly $600bn (₤ 482bn) of its market price – the biggest one-day loss in US history. Other tech stocks such as Microsoft, Google-owner Alphabet and Dell Technologies also sank – albeit by smaller margins.
A day later, it appears somewhat calmer. Nvidia shares had a mixed start as the US stock market opened, business reporter Nick Edser tells us. After flip-flopping a little in the very first few minutes, its value recuperated – standing 1.3% greater.
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, Tokyo’s Nikkei 225 index had actually dropped 1.39%, while Hong Kon’s Hang Seng made a small 0.14% gain.
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