Market Opens with a Sharp Decline

Wall Street experienced a significant downturn at Monday's opening, with technology stocks at the forefront of a steep market sentiment decline. The selloff was largely triggered by news of Chinese startup DeepSeek's development of a competitive artificial intelligence model, raising concerns over increasing competition within the tech industry.

Impact on Major Indices

The Nasdaq 100 saw a dramatic plunge of 3.53%, with Constellation Energy Corporation leading the downturn by sinking 16.96%. Similarly, the Dow Jones Industrial Average dropped by 0.78%, with Nvidia Corporation experiencing a significant fall of 10.95%. The S&P 500 was not spared, plummeting 2.20% as Vistra Corp. sank 21.02%.

Currency Movements

Amidst the market turmoil, the euro showed resilience, gaining 0.19% against the dollar, trading at 1.05165.