Fake DeepSeek Token Reaches $48M Market Cap, 22,000 Wallets Affected as Company Denies Involvement
A Solana-based token named after the Chinese AI app DeepSeek briefly reached a market cap of $48 million, driven by $150 million in trading volume.
Analysis-US tech stock tumble highlights risk of market reliance on megacaps
Turbulence in some of the biggest tech names is reminding investors of one of the major risks to the U.S. stock market's record-setting rally: Reliance on a handful of mammoth companies to power those gains. Investors are scrambling to understand the fallout for the artificial intelligence (AI) investment theme that has been a critical driver for stocks over the past two years after the emergence of a low-cost Chinese AI model rattled markets. Optimism over AI has helped propel shares of chipmaker Nvidia and others of the "Magnificent Seven" megacaps, which combined contributed more than half of the S&P 500's 25% total return in 2024.
Currency market whiplashed on tariff, DeepSeek concerns
TOKYO (Reuters) -The dollar firmed against the yen and euro on Tuesday on new U.S. tariff threats, giving traders little time to catch their breath after Monday's big risk-off moves on concerns that U.S. dominance in artificial intelligence technology may be wavering. Any market relief that President Donald Trump stopped short of hiking tariffs on U.S. trading partners immediately after taking office last week has quickly faded. Trump said he planned to impose tariffs on imported computer chips, pharmaceuticals and steel in an effort to get the producers to make them in the United States.
Mad Money's Jim Cramer Says 'Own Bitcoin, Not MicroStrategy'
In January 2024, Cramer said that bitcoin was likely topping out and called for an exit. The asset has surged more than 100% since.
Smithfield Foods prices IPO below range in US market comeback
The IPO valued the pork producer at $7.95 billion, ahead of a market debut that will see the company return to a U.S. exchange after more than a decade. The offering was priced at $20 per share, Smithfield said, below the $23-$27 per share range that would have raised as much as $939.6 million. Smithfield raised $260.9 million in the offering, while the rest was raised by the selling stockholder, a unit of its parent company WH Group.
DeepSeek's founder is being hailed in China as an 'AI hero of Guangdong' after the US market rout
A $1 trillion wipeout in the US stock market has given Liang Wenfeng a new burst of online stardom, with one Chinese paper calling him a "great god."
DeepSeek tech wipeout erases more than $1 trillion in market cap as AI panic grips Wall Street
A tech sell-off on Monday saw more than $1 trillion in value erased over concerns over China's DeepSeek AI app.
It’s time to take profits from our winning stock tips – and where you should put them
The share price may be crumbling but we believe the investment case for landscaping, building and roofing products supplier Marshalls remains solid, so we shall keep faith in the recovery potential at the West Yorkshire company.
Ripple's CEO Brad Garlinghouse Bats for Diversified U.S. Crypto Reserve
Ripple's CEO calls for a U.S. strategic bitcoin reserve that includes more than one token.
LNG WRAP: US Gas Producers Likely to Gain Asian Market Share
(Bloomberg) -- US gas producers could gain Asian market share at the expense of Australian exporters in the long run, as countries running a trade surplus with the US, like Japan and South Korea, are compelled to buy more American LNG to avoid Trump’s tariffs, according to Bloomberg Intelligence.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersBudapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’What Happened to Hanging Out on the Street?Vienn