DeepSeek's AI Innovation Rocks U.S. Markets

In a surprising turn of events, U.S. markets experienced a significant downturn before the opening bell, largely due to the groundbreaking capabilities unveiled by Chinese AI company DeepSeek. This innovation not only captured the tech world's attention but also propelled DeepSeek to the top of the Apple App Store rankings.

Tech Stocks Take a Hit

The impact was particularly felt on the tech-heavy Nasdaq 100, with Nvidia's shares dropping by 8%, and the decline continued to deepen to 10% according to the latest figures. This development has raised questions about the West's leadership in AI technology and its future direction.

Market Overview

At 5:52 am ET, the Dow Jones Industrial Average saw a decrease of 0.68%, or 300 points, while the Nasdaq 100 experienced a significant drop of 5.06%, or 1030 points. The S&P 500 also decreased by 3%. Meanwhile, the euro saw a slight increase of 0.11% against the dollar, trading at 1.05065 at 5:49 am ET.