Contracts on the tech-heavy Nasdaq 100 ( NQ=F) sank 4.3%, while S&P 500 futures ( ES=F) tumbled 2.4%. Dow Jones Industrial Average futures ( YM=F) fell 0.9%, or about 380 points, on the heels of a winning week for the major gauges.

The Nasdaq could face market-cap losses of nearly $1 trillion if premarket declines hold into the close of trading.

Tech stocks plunged Monday morning, as fears mounted that Chinese artificial intelligence firm DeepSeek leapfrogged U.S. dominance in AI development.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Chinese artificial intelligence startup DeepSeek rocked global technology stocks Monday.

The S&P 500 Index ($SPX) (SPY) today is down -1.63%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -2.66%. March E-mini S&P futures (ESH25) are down sharply by -1.