European stocks closed sharply higher on Wednesday (July 23), halting three previous trading sessions' declines, buoyed by speculation that the US might accept lower tariffs following a new trade deal with Japan. The Eurozone STOXX 50 rose 1.1% to 5,350, and the pan-European STOXX 600 gained 1.1% to 550. President Trump lowered tariffs on Japan to 15% from an initial threat of 25%, despite no reports of substantial progress in trade negotiations between the EU and the US. Progress on auto tariffs with Japan, which has significant exposure to automakers, lifted shares of BMW, Stellantis,...
The Dow Jones Industrial Average (DJIA) dipped into the 44,000 handle during Monday's early overnight session, driven lower by a fresh bout of souring in investor risk appetite after a Chinese company globally released an open-source competitor to US-based AI models that have been largely proprietary up to this point. Investor sentiment was driven further into the floorboards by a political spat between United States (US) President Donald Trump and Colombia over the weekend after a disagreement between the two countries over the return of Colombian migrants from the US led to President Trump...
US stocks plunged on Monday (1/27), with the S&P 500 down 1.8%, the Dow Jones down about 207 points and the Nasdaq nearly 3%, driven by growing concerns about US dominance in AI. The latest AI model from Chinese startup DeepSeek, which has been praised for its cost-effectiveness and ability to run on less advanced chips, attracted significant attention as its AI Assistant overtook ChatGPT to become the top-rated free app on the US Apple App Store. The technology sector was by far the worst performer. Nvidia plunged more than 10%, Broadcom slumped 11.5% and Micron Technology lost more...
European stocks slumped on Monday (27/1) as the technology sector tracked a rout in other markets after China's improved low-cost, low-power artificial intelligence (AI) models fueled concerns about rivals' profits and the need for expensive technology. The pan-European STOXX 600 (.STOXX) was down 0.7% by 0815 GMT. U.S. Nasdaq Composite futures fell 3.1%, while S&P 500 futures fell 1%. Startup DeepSeek has launched a free assistant that it says uses low-cost chips and less data, appearing to challenge widespread bets in financial markets that AI will drive demand along the supply chain...
The Hang Seng rose 132 points, or 0.7%, to close at 20,198 on Monday (1/27), gaining for a second session amid broad gains. Positive sentiment was supported by news that the US and Colombia have averted trade tensions, as the White House confirmed that Bogota has agreed to all conditions set by President Trump in the migrant dispute. Adding to the upbeat mood, three Chinese insurance companies received regulatory approval to invest CNY 52 billion in stocks. Furthermore, excitement around DeepSeek, a Chinese AI with a cost-saving model, increased, sending tech stocks such as Kuaishou Tech...
Japanese stocks fell after the close on Monday (1/27), as losses in the Precision Instruments, Automobiles & Parts and Gas & Water sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 0.83%. The best performers on the Nikkei 225 were Keio Corp. (TYO:9008), which rose 6.23% or 231.00 points to trade at 3,938.00 at the close. Meanwhile, Taiheiyo Cement Corp. (TYO:5233) gained 5.53% or 209.00 points to close at 3,987.00 and KDDI Corp. (TYO:9433) gained 4.81% or 234.00 points to 5,103.00 in late trade. The worst performers during the session were Furukawa Electric...