Wall Street is tumbling on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China. The S&P 500 fell 1.8% in early trading Monday.

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

U.S. stocks were headed for a sharp drop on Monday, led by technology shares, as surging interest in Chinese startup DeepSeek's low-cost artificial intelligence model raised doubts over the sector's lofty valuations.