Pre-Market Report – Tuesday 28 January: US markets hit with AI nerves | Nvidia falls 17%
- Author
- Marcus Today
- Published
- Mon 27 Jan 2025
- Episode Link
- None
The S&P 500 and Nasdaq Composite were down sharply Monday on concern about an artificial intelligence stock bubble popping because of the emergence of Chinese startup DeepSeek, which has possibly made a competitive AI model for a fraction of the billions Silicon Valley is spending. The Nasdaq Composite lost 3.07%, falling to 19,341.83, and the S&P 500 slid 1.46% to 6,012.28. The Dow Jones Industrial Average added 289.33 points, or 0.65%, to close at 44,713.58. Gains in Apple, Johnson & Johnson and Travelers helped lift the 30-stock index.
SPI up 14 - Newmont (NEM) sells Canada gold mine for US$675m - Fed Meeting this week.
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