weekly market update

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. This article is not a substitute for such professional advice or services, before making any decisions related to these matters, you should consult a qualified professional advisor.