Monday’s meltdown was a cold plunge on what had otherwise been a bull market for tech on the belief that AI would usher in a new golden age of worldwide productivity and sector-

Nvidia Corp., the poster child of the AI frenzy, sank 17 per cent and headed toward the biggest market-cap loss for a single stock in market history. The AI leader wiped of $500 billion of its market value and shed 21 per cent off its stock price in two days.

Monday’s bloodbath in Nvidia and other AI stocks wiped out some $1 trillion from the stock market’s value.

Nvidia staged a moderate rebound on Tuesday, rising as much as 3%, following a 17% drop the prior day. More broadly, major US indexes rallied after the S&P 500 and Nasdaq 100 saw sharp losses on Monday amid concerns over the Chinese AI firm DeepSeek's rapid and seemingly cost-effective advances.

Global technology stocks regained some ground on Tuesday a day after a low-cost Chinese AI model rattled markets, while traders rotated back into the dollar from safe-haven currencies. The tech rebound boosted Wall Street's main stock indices,

Nvidia and other U.S. tech stocks are steadying a day after tumbling on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it. The S&P 500 was 0.2% higher in early trading Tuesday.