Crypto mining stocks loss extend, tech stocks steady after DeepSeek scare
The S&P 500 saw an uptick on Jan. 28 but crypto mining stocks failed to recover from a sudden market downturn triggered by the frenzy over DeepSeek’s new AI model.
Crypto mining stocks have closed down for the second consecutive day as major tech stocks regained their footing after the US market was rocked by an artificial intelligence model from China’s DeepSeek, triggering concerns about the overvaluation of the country’s AI scene.
Crypto mining firm Riot Platforms (RIOT) closed down 4.37% on Jan. 28, while rival Cleanspark (CLSK) dropped 2.47% and MARA Holdings (MARA) dipped 0.14%, according to Google Finance.
Chipmaker Nvidia (NVDA) saw the biggest rebound among the “magnificent seven” top US tech stocks, closing the day up over 8.8% after dropping 17% on Jan. 27.
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Author: Ciaran Lyons
