Stocks End 2-Week Rally on Tech Sell Off Over DeepSeek, Mixed Earnings Reports

Stocks End 2-Week Rally on Tech Sell Off Over DeepSeek, Mixed Earnings Reports
Traders work on the floor of the New York Stock Exchange during morning trading in New York City on Jan. 28, 2025. Michael M. Santiago/Getty Images
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U.S. stocks ended a two-week rally on a tech sell-off that began early last week on anxiety over Chinese artificial intelligence (AI) startup DeepSeek. The situation stabilized later in the week, but the road to recovery was bumpy on mixed corporate earnings, volatile bond yields, and anxiety over tariff proposals by Washington.

The S&P 500 ended Jan. 31 at 6,040, down 1 percent for the week; the Dow Jones closed at 44,544, up by 0.27 percent; the Nasdaq finished the week at 19,627, down by 1.64 percent; and the small-cap Russell 2000 was down 0.87 percent to end at 2,287.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”