Donald Trump's rapid move to ban a "digital dollar" has left the field wide open, observers say, for China and Europe to make their already-advanced central bank digital currency (CBDC) prototypes into global standard-setters.

The Nasdaq & S&P 500 fell after Chinese startup DeepSeek shows AI can be built cheaply, sparking fears AI spending will stall. The blue-chip Dow rose.

DeepSeek has produced an open-source AI model that could rival ChatGPT while being significantly cheaper to produce.

Shares in Nvidia, whose semiconductors power the AI industry, fell nearly 17 percent on Wall Street, erasing nearly $600 billion of its market value.

By Lawrence Delevingne, Samuel Indyk and Tom Westbrook BOSTON/LONDON/SINGAPORE (Reuters) -U.S. stock futures steadied, the dollar ticked higher and tech stocks in Asia slid on Tuesday following a wave of selling as apparent advances by a Chinese AI startup cast doubt on U.

Major AI players, including Nvidia, Meta, Microsoft, and Alphabet, saw significant losses, with Nvidia shedding over 11% and losing $400 billion in market value. Analysts highlighted China’s growing challenge to US tech dominance.

The Lunar New Year holiday, China’s most important festival, begins today and runs until Tuesday next week. Millions of Chinese leave the cities to travel back home for a rare break with family during the holidays, which tend to distort economic data early in the year.

Investors dumped technology stocks in premarket trading Monday, sending U.S. indexes sharply lower after Chinese artificial intelligence startup DeepSeek demonstrated a chatbot that it says rivals the

The Chinese currency jumped against the US dollar as trade war worries receded, but some fear the gains may be ‘short-lived’.

President Donald Trump ordered the creation of a digital asset working group on Thursday which, among other things, would be tasked with exploring a U.S. cryptocurrency stockpile.

The RBA has maintained the Official Cash Rate (OCR) steady at 4.35% since November 2023, claiming inflation needs to “sustainably” return to its target band of 2% - 3% before considering a rate cut. The latest Board meeting took place in December, and officials claimed they were “gaining confidence” that inflation was moving in the right direction.

Silver prices rose close to $31.00 per troy ounce on Friday during Asian trading hours. The increase followed recent comments made by President Donald Trump at the World Economic Forum in Davos, Switzerland.