Market Opens with Tech Stocks Taking a Hit

At the start of the trading week, New York City's major stock exchanges experienced a significant downturn, primarily driven by a sharp decline in the technology sector. This market sentiment shift was largely influenced by the announcement of DeepSeek, a Chinese startup, developing a competitive artificial intelligence model, raising concerns over increasing competition within the industry.

Significant Losses Across the Board

The Nasdaq 100 saw a dramatic fall of 3.53%, with Constellation Energy Corporation leading the downturn by sinking 16.96%. Similarly, the Dow Jones Industrial Average wasn't spared, dropping 0.78%, where Nvidia Corporation was the hardest hit, falling by 10.95%. The S&P 500 also faced a steep decline of 2.20%, with Vistra Corp. experiencing a significant drop of 21.02%.

Currency Movements

In the currency markets, the euro showed a slight increase against the dollar, trading at 1.05165, up by 0.19%.