India, Jan. 27 -- The major U.S. index futures are currently pointing to a sharply lower open on Monday, with stocks likely to extend the pullback seen during last Friday's session.
A sell-off by technology stocks is likely to weigh on Wall Street, as AI darling and sector leader Nvidia (NVDA) is plummeting by 11.5 percent in pre-market trading.
The plunge by Nvidia comes after Chinese startup DeepSeek's AI Assistant overtook rival ChatGPT to become the top-rated free application available on Apple's App Store in the United States.
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.
After turning in a relatively lackluster performance e...