Stocks futures are pointing to a sharply lower open on Monday as technology stocks tumble on concerns about the competitive threat that China poses in the race to develop artificial intelligence.

The Dow Jones Industrial Average and other major indexes traded sharply lower Monday after a Chinese tech company released a new artificial intelligence model over the weekend that could pose a threat to Nvidia and other U.

US stocks were set for a steep selloff Monday morning after a surprise advancement from a Chinese artificial intelligence company, DeepSeek, threatened the aura of invincibility surrounding America’s technology industry.