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CNBC Daily Open: Nvidia plunges as DeepSeek triggers questions on its value
Justin Sullivan | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know today $600 billion plunge in Nvidia Nvidia […]
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Scott Bessent wins Senate confirmation as Treasury secretary
Scott Bessent, founder and chief executive officer of Key Square Group LP and US treasury secretary nominee for US President-elect Donald Trump, during a Senate Finance Committee confirmation hearing in Washington, DC, US, on Thursday, Jan. 16, 2025. Al Drago | Bloomberg | Getty Images The U.S. Senate voted on Monday to confirm Scott Bessent […]
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S&P 500 futures are little changed after Monday’s sharp sell-off: Live updates
Traders work on the floor of the New York Stock Exchange at the opening bell on Jan. 27, 2025 in New York City. Angela Weiss | AFP | Getty Images S&P 500 futures were little changed on Monday night. The action followed a sell-off fueled by worries over the emergence of Chinese startup DeepSeek and […]
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Tom Lee says this is the worst market overreaction since 2020 pandemic outbreak
Fears around the future of the artificial intelligence trade pushed Nvidia shares down by nearly 17% on Monday and weighed on the stock market – but investors seem to be overreacting, according to Tom Lee, head of research at Fundstrat Global Advisors. Chinese AI startup DeepSeek spurred a sell-off on Monday. The company last month […]
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Nvidia sheds almost $600 billion in market cap, biggest one-day loss in U.S. history
Nvidia CEO Jensen Huang holds a Blackwell GeForce RTX 50 Series GPU (L) and a RTX 5000 laptop as he delivers a keynote address at the Consumer Electronics Show (CES) in Las Vegas, Nevada on January 6, 2025. Patrick T. Fallon | Afp | Getty Images Nvidia lost close to $600 billion in market cap […]
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Power stocks plunge as energy needs called into question because of new China AI lab
The cooling towers of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024. Danielle DeVries | CNBC Power companies that are most exposed to the tech sector’s data center boom plunged early Monday, as the debut of China’s DeepSeek open-source AI laboratory led investors to question how much energy artificial intelligence […]
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These stocks are expected to move the most during this big earnings week
Stocks such as Tesla , Wolfspeed and Starbucks could make the biggest moves after reporting earnings this week. The upcoming days are key for quarterly results from megacap technology and semiconductor stocks, which are taking a sizable breather on Monday amid the DeepSeek-fueled tech meltdown . Many nontech players across retail, pharmaceuticals and materials are […]
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How U.S. efforts to restrict China from Nvidia’s fastest chips may have backfired
DeepSeek’s rattling of the artificial intelligence market has been several years in the making, with analysts viewing the Chinese company’s shocking advance in the field as an unintended consequence of U.S. trade policy. Starting under the Biden administration in 2022, the U.S. has imposed export controls to keep China from accessing high-performance semiconductors, primarily from […]
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DeepSeek hit with large-scale cyberattack, says it’s limiting registrations
DeepSeek on Monday said it would temporarily limit user registrations “due to large-scale malicious attacks” on its services, though existing users will be able to log in as usual. The Chinese artificial intelligence startup has generated a lot of buzz in recent weeks as a fast-growing rival to OpenAI’s ChatGPT, Google’s Gemini and other leading […]
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British retail faces a reckoning as 232-year-old chain looks to sell its high street stores
Members of the public walk past a branch of a WH Smith Plc in Orpington on January 23, 2025 in London, England. Dan Kitwood | Getty Images News | Getty Images British retailer WH Smith is looking to sell its historic high street business to focus on its travel store unit in the latest hit […]
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