Nasdaq falls at open as DeepSeek's AI chip push rattles markets

[NEW YORK] The Nasdaq opened lower on Tuesday (Jul 7) amid declining chip stocks, with investors questioning the momentum of the AI-led rally despite Samsung’s strong earnings, while a report on China’s DeepSeek making its own AI chip also hit sentiment.

The Dow Jones Industrial Average rose 48.1 points, or 0.09 per cent, at the open to 53,104.06.

The S&P 500 fell 20.8 points, or 0.28 per cent, at the open to 7,516.63​, while the Nasdaq Composite dropped 161.0 points, or 0.62 per cent, to 25,960.13 at the opening bell. REUTERS