The S&P 500 and the Nasdaq hit over one-week lows on Monday, as the surging popularity of a low-cost Chinese artificial intelligence model knocked shares of chipmaker Nvidia and other companies benefiting from investments into the technology.

US stock index futures tumbled in early Asian trading hours Monday amid concerns that an artificial intelligence model from China’s DeepSeek may disrupt the tech market. S&P 500 futures fell as much as 1 per cent as of 10:12 am in Hong Kong,