Tech stocks attempted a rebound after Monday’s devastating crash triggered by DeepSeek, as investors show interest in dip-buying the hardest-hit names.
Shares of Nvidia Corp. (NASDAQ:NVDA) climbed by over 6% after plunging 17% and erasing nearly $600 billion in market capitalization the previous day, following a series of reassuring comments suggesting that DeepSeek’s development may not be as detrimental to the semiconductor giant as initially feared.
The Nasdaq 100 gained 1.6% after a 2.9% drop the day before, outperforming other major indices.
Notably, General Motors Co. (NYSE:GM) tumbled 8.5%, despite slightly beating Street expectations on earnings, as the automaker failed to provide updates on the potential impact of Trump tariffs, leaving investors in limbo.
The dollar strengthened after multiple overnight reports indicated that Treasury Secretary Scott Bessent is considering universal tariffs of 2.5%, with gradual increases up to 20%, …
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