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US tech stocks, dollar rebound after DeepSeek-triggered selloff

  • Nvidia suffered a record one-day loss of $593 billion, the largest in history, due to the emergence of a low-cost AI model from DeepSeek that challenged U.S. Tech dominance.
  • Investors reacted by selling tech stocks globally, causing a drop of over $1 trillion in semiconductor and AI-related shares.
  • Despite the selloff, Nvidia shares rose 2% on Tuesday, while the S&P 500 and Dow Jones Industrial Average also saw slight gains.
  • U.S. Consumer confidence declined for the second month in January amid concerns about the labor market and inflation.
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