Wall Street Opens with Sharp Declines

Major stock exchanges in New York City experienced significant drops at Monday's opening, with the technology sector at the forefront of a steep decline in market sentiment. The selloff was primarily triggered by news of a Chinese startup, DeepSeek, developing a competitive artificial intelligence model, raising concerns about increasing competition within the industry.

Impact on Major Indices

The Nasdaq 100 saw a plunge of 3.53%, with Constellation Energy Corporation leading the downturn by sinking 16.96%. The Dow Jones Industrial Average wasn't spared, dropping 0.78%, with Nvidia Corporation being its worst performer, falling 10.95%. Similarly, the S&P 500 plummeted by 2.20%, with Vistra Corp. experiencing a significant drop of 21.02%.

Currency Movements

In the currency market, the euro gained 0.19% against the dollar, trading at 1.05165.