Nvidia’s stock plummeted 17%, wiping out $589 billion in market value, due to concerns over Chinese AI startup DeepSeek’s competitive, low-cost technology. The news spurred a broader tech selloff, highlighting fears that US firms may have over-invested in AI. Nvidia acknowledged DeepSeek’s advancements and denied any violation of US export restrictions.
Bank lending growth halves in February amid retail and NBFC slowdown
Bank lending growth in FY’25 until February slowed to 10.9% from last year’s 20.6% due to a decline in retail and NBFC loans, according to
March 28, 2025