Nasdaq futures 5% down on popularity of Chinese AI startup

| 27 Jan 2025 5:47 PM IST

US Stock Market LIVE: United States' stock exchange Nasdaq is expected to witness a bloodbath on Monday, after stocks including that of Nvidia tumbled in pre-market trading.

Nasdaq futures lost 5%, on concern that a cheaper artificial intelligence model from China threatens the dominance of US technology, Bloomberg reported.

Nvidia Corp. plunged 12% in US premarket trading, setting it up for the biggest drop on record in terms of market capitalization if the move holds.

The volume of Nasdaq 100 futures contracts changing hands was about four times the 30-day average, according to data compiled by Bloomberg. S&P 500 futures sank as much as 3% and Bitcoin slid below $100,000.

Tags: US Stock Market LIVENasdaqUnited States

Categories: Business & Economy

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