Wall Street's tech giants dragged US frontline indices on Monday after China's AI startup DeepSeek rattled Silicon Valley and hit the top of Apple’s App Store chart

Nvidia saw a huge loss on Monday, with its stock dropping 16.86% to $118.58, wiping out $593 billion in market value in just one day. This is the biggest one-day loss ever for a public company. The cause of the drop?

Shares for leading US chip firm Nvidia dropped by almost 17% on Monday after the emergence of DeepSeek stunned Silicon Valley.

US stock market: Following concern over Chinese Air Intelligence (AI) start-up DeepSeek, NVIDIA share price witnessed sharp selling on Monday. The US stock market's tech major, NVIDIA stock price, opened lower at $124.80 apiece on the NASDAQ and touched an intraday low of $116.70 per share.