Tech stocks tumble with heavy losses for Nvidia as a Chinese competitor threatens to upend AI frenzy
Wall Street’s superstars tumbled on January 27 as a competitor from China threatened to upend the artificial intelligence frenzy they have been feasting on. The S&P 500 dropped 1.5%, dragged down in large part by a 16.9% fall for Nvidia. Other Big Tech stocks also took heavy losses, and they pulled the Nasdaq composite down 3.1% for its worst loss in more than a month. The damage was focused on AI-related stocks, while the rest of the market held up much better. The Dow Jones Industrial Average rose 289 points, or 0.7%, and the majority of U.S. stocks climbed....
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