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January 28, 2025

Tech stocks tank as a Chinese competitor threatens AI boom

By STAN CHOE
AP Business Writer

NEW YORK — Wall Street's superstars tumbled Monday as a competitor from China threatens to upend the artificial-intelligence frenzy they've been feasting on.

The S&P 500 dropped 1.5%, dragged down in large part by a 16.9% fall for Nvidia. Other Big Tech stocks also took heavy losses, and they pulled the Nasdaq composite down 3.1% for its worst loss in more than a month.


 
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