UNBELIEVABLE: Stocks hit by ai jitters - Caught on Camera

The S&P 500 Index ($SPX) (SPY) today is down -1.64%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -2.68%.  March E-mini S&P futures (ESH25) are down sharply by -1.70%, and March E-mini Nasdaq futures (NQH25) are down sharply by -2.78%. 

Stocks today are sharply lower, with the S&P 500 sinking to a 1-week low and the Nasdaq 100 plunging to a 1-1/2 week low.  Today’s plunge in technology stocks is dragging the overall market lower.  Chip stocks and AI-related companies are plummeting today because China’s artificial intelligence startup DeepSeek appears to provide comparable performance to Western chatbots at a fraction of the price.  The latest model of DeepSeek, released last week, is widely seen as competitive with those of OpenAI and Meta Platforms and is now at the top of Apple’s App Store rankings.  It also questions the sky-high valuations for AI-related stocks and the massive research and developmental spending business model.  Jeffries said today that “concerns have immediately emerged that DeepSeek could be a disruptor to the current AI business model, which relies on high-end chips and extensive computing power.”