ASX to fall, Wall St drops as DeepSeek challenges bullish AI outlook

News Snapshot:

Pinned post – 4.30AM Australian stocks are set to fall at the open amid a global rout sparked by concerns that a cheaper artificial intelligence-model from China, called DeepSeek, threatens to derail the dominance of the US tech sector. The sell-off comes as investors await earnings from Tesla, Microsoft, Meta Platorms and Apple -- four of the magnificent seven -- later this week, along with a policy decision from the Federal Reserve. Nvidia plunged more than 13 per cent at New York’s open, as semiconductor stocks tumbled. Most of the mag seven also fell initially, though they pared their losses...