The sharp pullback in Nvidia shares Monday cost investors $592.7 billion in paper losses as investors fled the stock amid rapid advancements at [China's DeepSeek](
Nvidia is once again the most valuable U.S. company, outranking Apple for the first time since late November. A rise in the chip maker's stock meant it ended Tuesday with a market capitalization of $3.
Monday's tech rout has brought no shortage of big numbers on Wall Street, and here's another to keep in mind: $441.9 billion. That's the amount of market capitalization that Nvidia has shed, based on intraday activity.
Chinese startup DeepSeek has debuted an AI app that challenges OpenAI's ChatGPT and other U.S. rivals, sending a shock through Wall Street.
Rebounding tech stocks drove U.S. indexes higher a day after they tumbled on doubts about the artificial intelligence frenzy.
On Wednesday, the Dow Jones Industrial Average (DJIA) remained steady, hovering around 44,700, shedding around 130 points but holding steady through the midweek market session. The major equity index is currently near its all-time highs above 45,000, but stock traders still have a bit of work to do to push bids back into those record peaks.
The Dow Jones tumbled during the overnight session before Monday’s opening bell. Trade war fears are back on the table after Trump gets into a political scuffle with Colombia. Fresh rate cut hopes are bolstering equities from early week lows.
DeepSeek was created by a top Chinese quantitative trading firm. It’s not unusual for Wall Street quant luminaries to try their hand at tech.
The S&P 500 advanced 0.92% to 6,067.70, with technology shares seeing the biggest gains among sectors. The Technology Select Sector SPDR Fund (XLK) rose more than 2%, following a 4.9% loss on Monday. The Nasdaq Composite surged 2.03% to 19,733.59, following a 3.1% decline a day ago.
Buffer ETFs, also known as defined-outcome ETFs, use options contracts to limit losses while capping upside potential for the indexes they track. This type of fund has become particularly popular since 2022, when the Federal Reserve hiked interest rates to combat inflation, sending the stock market into a tailspin.
The Dow Jones and S&P 500 held onto gains. Nvidia sank below a moving average while an auto retailer broke out.