Tech stocks have worst week in months after ‘nobody saw DeepSeek coming’ amid AI mania
The S&P 500 SPX and Nasdaq Composite COMP closed Friday with weekly losses, dragged down by battered tech stocks after fears surrounding DeepSeek suddenly surfaced in the U.S. equities market. AI chip maker Nvidia Corp. NVDA lost $552 billion in market value this week through Friday, after its stock struggled to rebound from a 17% plunge on Monday.