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Weekly Market Update: February 3, 2025
02/03/25
Markets Rocked by AI Advancements and Tariffs
Markets were shaken last week after the launch of DeepSeek’s new R1 artificial intelligence model. Major indexes opened sharply lower on Monday with the S&P 500 down more than 2% and the Nasdaq 100 off more than 3.5% at the start of trading. Markets rebounded slightly throughout the week but still closed lower. An additional headwind emerged late Friday afternoon after President Trump announced tariffs on key US trading partners China, Canada and Mexico.
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This article contains general information only. Sunflower Bank, N.A. is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. It is not meant as a substitute for such professional advice or services. Before making any decisions related to these matters, you should consult a qualified professional advisor. Investment and insurance products are not FDIC-insured, are not a deposit or other obligation of, or guaranteed by the bank or an affiliate of the bank, are not insured by any federal government agency and are subject to investment risks, including possible loss of the principal amount invested.