US stocks end mixed; tech stocks in red
Nvidia sees largest daily loss of market cap experienced by company in US history
( Atılgan Özdil - Anadolu Agency )
ISTANBUL
US stocks ended mixed Monday, with Chinese artificial intelligence (AI) startup DeepSeek's competitive new AI model R1 sending tech shares tumbling.
Shares of US chip giant Nvidia ended the day with a loss of nearly 17%, while the company's market value fell by more than $500 billion.
The fall marked the largest daily loss of value experienced by a company in US history.
Chip company Broadcom's shares also fell by 17.4%. Alphabet's shares lost 4% and Microsoft's shares lost 2%.
On the macroeconomic data side, new home sales in the US increased by 3.6% in December, exceeding market expectations.
The Dow Jones Industrial Average rose by 0.65%, or 289.33 points, to end the day at 44,713.58.
The S&P 500 fell by 1.46%, or 88.96 points, to 6,012.28, while the Nasdaq Composite fell sharply by 3.07%, or 612.47 points to 19,341.83.
