Stock Market Today: Nasdaq drops as AI fears rock tech stocks, DeepSeek challenges Nvidia’s dominance, Magnificent 7 stumble

The stock market saw a sharp drop, with the Nasdaq leading the decline, falling nearly 3%, as fears about AI’s future shook investor confidence. The rise of Chinese AI startup DeepSeek, which claims to offer cheaper and equally effective AI solutions, has challenged U.S. dominance in the tech space, particularly hitting Nvidia hard.