DeepSeek triggers global tech sell-off as Nvidia falls 12% in premarket with US equity futures in deep red

DeepSeek, the Chinese start-up firm, is giving a hard time to the bigger AI players in the market. The US stock futures are in deep red, with S&P 500 contracts down 2.5%, the Dow Jones dropping roughly 400 points, and the Nasdaq sliding over 4.5%, driven by growing concerns about the US’s dominance in AI.

The biggest casualty is undoubtedly the AI darling of the US stock market – Nvidia.