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