Mumbai, Jan. 28 -- Among the major averages, the Dow closed up 289.33 points (0.65)%, at 44,713.58. The S&P 500 ended down 88.96 points (1.46)%, at 6,012.28 while the Nasdaq settled with a loss of 612.47 points (3.07)%, at 19,341.83.

Technology stocks tumbled on earnings concerns following China's low-cost startup DeepSeek's emergence as a powerful AI model. DeepSeek's AI Assistant has overtaken ChatGPT on Apple's App Store, sparking fears that U.S. AI leaders could lose their dominance. DeepSeek's ascendance has doubt on Silicon Valley's hefty AI capex spending and the sustainability of the U.S. technical edge in artificial intelligence.

Pepsico, Apple, Amgen, Costco, Meta Platforms, Microchip, AstraZeneca, Starbucks, PayPal and Texas ...