Stock futures fell precipitously on Monday as stocks linked to artificial intelligence suffered due to worries about competition from DeepSeek, a Chinese firm in the field.
Futures linked to the S&P fell 2.3%, while those linked to the Dow Jones Industrial Average down 430 points, or 1%. There was a 3.9% drop in Nasdaq 100 futures as technology shares fell.
While other chipmakers Advanced Micro Devices and Micron Technology had losses of 5.4% and 8.3%, respectively, AI hotshot Nvidia saw an 11% decline in the premarket.
Mecacap tech companies Amazon and Meta Platforms saw losses of almost 4% apiece, while Apple saw a 1% decline. At the same time, Microsoft fell 5.9%.
Source (CNBC)
