Asian stocks drop after AI jitters hit US equities

A selloff was triggered after a cheap AI model from Chinese startup DeepSeek climbed to the top of Apples appstore, sparking concerns that valuations of the technology may be tough to justify. Japanese stocks fell, with chip-related shares extending Mondays declines. That was after the S&P 500 dropped 1.5% and the Nasdaq 100 sank 3%. Nvidia Corp., the poster child of the AI boom, suffered the biggest market-cap loss for a single stock in market history.