The Buenos Aires Stock Exchange experienced a sharp decline of 5%, influenced by the significant drop in Wall Street. The S&P Merval index fell to 2,439,098 points, a level that had not been seen since December 19. In New York, both ADRs and Argentine stocks also experienced losses, reaching even 7%.
The country risk saw a slight increase to 642 basis points, while the blue dollar, after starting lower, rebounded to $1,230. This situation was triggered by events surrounding DeepSeek, the Chinese artificial intelligence startup.
DeepSeek's latest creation, an innovative artificial intelligence model, caused a $1.2 trillion collapse in the market valuation of technology stocks in both the United States and Europe. Investors expressed doubts about the exceptionally high valuations of some of the major companies in the sector.
The central news was the announcement that DeepSeek's artificial intelligence assistant uses cheaper chips and requires less data than other leading offers on the market. Despite this, it guarantees the same efficiency, boosting its popularity and generating a reassessment of growth expectations for demand for artificial intelligence in the stock market.
The reaction from investors was immediate, triggering the largest daily drop in the history of the stock exchange for Nvidia Corporation, a major producer of artificial intelligence chips, with a decrease of 17% and losses totaling $600 billion.
