DeepSeek was reportedly developed in just two months at a cost of under $6 million — a stark contrast to the billions typically spent by US giants.

Dow Jones futures fell Sunday night, along with S&P 500 futures and especially Nasdaq futures, amid concerns over AI progress from China's DeepSeek. Nvidia, Broadcom, Meta and several other AI-related stocks were indicated lower overnight.

Jan. 27, 12:30 p.m. ET U.S. stocks got walloped Monday: The S&P 500 was down about 2% at 12:30 p.m. EST, and the tech-heavy Nasdaq sank 3%, heading toward its worst percentage loss since Dec. 18 and third-worst day of the last two years.

The second busiest week of earnings season includes four of the Magnificent 7. Chair Powell’s comments will be more important for markets than the Fed's rate decision.

The surge in Chinese AI chat assistant DeepSeek to the top of the Apple app charts couldn’t have been better timed to put pressure on the biggest U.S. technology companies. Four of the Magnificent Sev

Meta's AI chatbot is under scrutiny for incorrectly identifying the U.S. president. Despite Donald Trump's inauguration this week, the chatbot continued to name Joe Biden as president. Meta initiated emergency troubleshooting to resolve the issue,

Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean

The concerns over U.S. tech stocks come during a week when many of the sector's key companies will report earnings. Meta, Microsoft, Apple and Tesla will all post results. Outside of tech, other major companies reporting include General Motors, Boeing, Starbucks, Comcast, Chevron and Exxon Mobil. Here are the key results to watch this week:

Federal Reserve interest rate decision, Jerome Powell comments, PCE inflation, U.S. GDP, and earnings from Tesla, Meta, Microsoft, Apple and more.

U.S. tech stocks plunged on Monday, amid a wider market sell-off. The culprit: DeepSeek, a Chinese artificial intelligence company that last week introduced a new — and low-cost — model into the red-hot AI tech market.

Nvidia stock has rallied over 132%, thanks to the robust demand for its advanced GPUs (graphics processing units) that are required to power AI models. The impressive growth in the company’s revenue and earnings in recent quarters reflects the solid momentum that NVDA’s GPUs are witnessing due to the ongoing generative AI boom.

The S&P 500 dropped 1.5 percent, dragged down in large part by a 16.9 percent fall for Nvidia. Other Big Tech stocks also took heavy losses.