Nasdaq experienced its largest single-day percentage drop since December 18, mainly due to a selloff in U.S. chipmakers triggered by a low-cost Chinese AI model from DeepSeek. Nvidia’s significant 17% drop erased $593 billion in market value. Key companies like Microsoft and Google-parent Alphabet also saw declines. The Federal Reserve’s upcoming decision on interest rates is highly anticipated. Nasdaq experienced its largest single-day percentage drop since December 18, mainly due to a selloff in U.S. chipmakers triggered by a low-cost Chinese AI model from DeepSeek. Nvidia’s significant 17% drop erased $593 billion in market value. Key companies like Microsoft and Google-parent Alphabet also saw declines. The Federal Reserve’s upcoming decision on interest rates is highly anticipated. Economic Times
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