DeepSeek was reportedly developed in just two months at a cost of under $6 million — a stark contrast to the billions typically spent by US giants.

Jan. 27, 12:30 p.m. ET U.S. stocks got walloped Monday: The S&P 500 was down about 2% at 12:30 p.m. EST, and the tech-heavy Nasdaq sank 3%, heading toward its worst percentage loss since Dec. 18 and third-worst day of the last two years.

Tesla investors will look for more details on the automaker's lower-priced model when it reports quarterly results on Wednesday as some expect the cheaper car to help the company hit its goal to increase deliveries by up to 30% this year.

The surge in Chinese AI chat assistant DeepSeek to the top of the Apple app charts couldn’t have been better timed to put pressure on the biggest U.S. technology companies. Four of the Magnificent Seven companies–the tech titans that powered huge gains in stock indexes over the past two years–report earnings this week.

The Federal Reserve is expected to keep interest rates on hold on Wednesday. Plus, earnings reports from Apple, General Motors, Starbucks, Microsoft, Tesla, and Exxon Mobil.

This week brings a slew of earnings from big tech companies and from other blue chips in areas such as credit cards, defense, energy and telecoms. Wednesday is shaping up to be the busiest day, with the Federal Reserve poised to make its first rate decision under a Trump presidency,

US stocks opened lower after Chinese startup DeepSeek's AI model shows AI can be built cheaply. That sparked fears AI spending will stall.

Recent reports have revealed that the administration of former US President Joe Biden has left a parting gift for Tesla CEO Elon Musk and that significant parting gift is now being used by Tesla CEO Elon Musk to actually break up Microsoft and Open AI.

The company formerly known as Google has seen almost a 16 per cent rise in share price from when Trump was confirmed as having won the US election in early November, and while it has held fairly steady across the past month, the final week of Joe Biden’s administration did see an initial 1.6 per cent rise.

Shares of Nvidia, Broadcom, and ASML slump as China’s DeepSeek threatens the companies’ dominance in artificial intelligence, while AI energy and infrastructure stocks such as Vistra and GE Vernova tumble.

Microsoft founder Bill Gates weighed in on his fellow billionaire Elon Musk’s international political ambitions—twice calling the Tesla and SpaceX owner’s support for far-right movements abroad “insane.

The concerns over U.S. tech stocks come during a week when many of the sector's key companies will report earnings. Meta, Microsoft, Apple and Tesla will all post results. Outside of tech, other major companies reporting include General Motors, Boeing, Starbucks, Comcast, Chevron and Exxon Mobil. Here are the key results to watch this week: