Market Reacts to DeepSeek's AI Breakthrough
US stock futures experienced a sharp decline in premarket trading this Monday, as the market grapples with the disruptive impact of Chinese AI company DeepSeek's unexpected success. The company's R1 model recently topped the Apple App Store, raising questions about the future of capital-intensive AI hardware investments in the US.
Significant Drops Across Major Indexes
By 3:28 am ET, the Dow Jones Industrial Average had slipped 0.83%, losing 366.98 points. The Nasdaq 100 fell by 3.01%, and the S&P 500 dropped 1.83%. Additionally, the euro saw a 0.19% decline against the dollar, trading at 1.04744.
Comments