Shares of technology giants, including ASML Holding (ASML), experienced significant declines. This was triggered by the emergence of Chinese AI startup DeepSeek, which has raised concerns about its potential to surpass Western tech companies in dominance. Investors are particularly worried about the impact of DeepSeek on NVIDIA (NVDA, Financial), one of the most valuable companies in the United States.
During early trading in Amsterdam, ASML's stock fell by as much as 9.4% to €634.70, marking its largest intraday drop since October of the previous year. Meanwhile, NVIDIA's pre-market trading in the U.S. saw a decrease of 8.3%. The Nasdaq 100 futures also dropped by 3%.
ASML, a Dutch company, is known for producing high-end chip manufacturing equipment used in various products, including electric vehicles and military gear. The company had previously benefited from the surge in AI-related spending.
