Investment firms for the world’s ultra-rich boosted their Nvidia Corp. allocations ahead of the DeepSeek-driven selloff.

The worst damage was done to shares of major chip firms. Nvidia plunged almost 17%. The decline erased $589 billion from its market value and marked the worst-ever single-day loss of market cap in ...

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Flynn Nicholls is a Newsweek reporter based in London, U.K. His focus is reporting on U.S. politics and society. Originally from New Zealand, Flynn joined Newsweek in 2024 and had previously ...