Since December 6, 2024, the US stock market has been trading in a flat range up to February 19. However, the flat trading range weakened on January 27 when DeepSeek announced it had developed AI learning database using outdated Nvidia GPU for less than $6M. Investors panicked selling top AI company stocks with some share prices plummeting 15% - 20% that day. Even though the selloff was short lived, and nearly all the losses of that day were recovered within three weeks, investor confidence in the rally was shaken. Read in this UPdate, the events that followed DeepSeek's announcement that has accelerated the selloff along with our analysis of the potential outcome of this correction.
