The largest one-day stock market gain in U.S. history happened on October 13, 2008, during the financial crisis. The Dow Jones Industrial Average surged by 936 points, equivalent to a 11.08% increase, following coordinated global efforts by central banks to stabilize the financial system. This historic rally came amid one of the most volatile periods in market history.
Market Wrap
The U.S. stock markets experienced significant volatility yesterday, driven largely by geopolitical and economic concerns. The technology sector led a sharp decline, as fears over competitive disruption from China's AI advancements, particularly the emergence of DeepSeek, shook investor confidence. This came amid growing political tensions between the U.S. and China, as Washington hinted at potential new export restrictions targeting AI-related technologies.
On the economic front, the Federal Reserve's upcoming meeting remains in focus, with investors weighing the likelihood of further rate hikes after recent robust employment data and signs of persistent inflation. Bond yields rose, reflecting expectations of tighter monetary policy.
Meanwhile, energy stocks saw mixed performance, with oil prices fluctuating after OPEC+ announced it would maintain current production levels despite global demand concerns. In contrast, utilities and telecommunications sectors showed relative strength, as investors sought defensive havens amid the broader market sell-off.
Nvidia's stock plunged 17%, marking the largest single-day loss in U.S. market history by shedding $465 billion in market value. This decline was triggered by concerns over a new AI tool from Chinese startup DeepSeek, which raised fears about increased competition in the AI sector.
The decline was part of a broader sell-off in tech stocks, driven by apprehensions regarding DeepSeek's advancements potentially impacting demand for AI-related hardware.
AT&T's stock rose by 6.3%. The increase was attributed to the company's upbeat fourth-quarter wireless subscriber growth, signaling strong performance in its core business.
The decline was attributed to DeepSeek's more efficient AI model, which requires less energy, leading to concerns about reduced future energy demand from AI data centers.
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