Wall St falls as DeepSeek competition pulls down Nasdaq

The S&P 500 and Nasdaq hit one week lows due to the rising popularity of a low-cost Chinese AI model impacting chipmaker Nvidia and other tech companies. DeepSeek’s AI Assistant surpassed ChatGPT on Apple’s App Store, causing concern among investors about industry disruption. Nvidia dropped 11.7%, tech stocks fell 4.5%, and power companies like Vistra and GE Vernova saw significant declines, while AT&T rose 6.5%.

Full Article