Market Shakeup: Nvidia's Sudden Drop

In a dramatic turn of events, Nvidia Corporation's stock experienced a significant 13.26% drop, reaching its lowest point since October 2024. This downturn was triggered by the announcement that DeepSeek, a Chinese company, has developed a competitive artificial intelligence assistant, potentially shifting the technological focus towards Beijing.

Wall Street Reacts

The news sent shockwaves through Wall Street, with tech stocks tumbling amidst growing concerns over the implications of this breakthrough. At 9:33 am ET, Nvidia's shares were trading at 123.6400 apiece, marking a notable moment in the ongoing tech rivalry between the United States and China.