Progress of China’s DeepSeek AI Model Sinks Tech Stocks
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Learn more at Schwab.com slash trading. Here is your morning brief for Monday, January 27th. I'm Luke Vargas for The Wall Street Journal. Global tech stocks are selling off following last week's release of a made-in-China AI model from the company DeepSeek that nearly matched the performance of American rivals despite using inferior chips.

Shares in NVIDIA and Broadcom were down more than 8 and 9 percent respectively in off-hours trading. ASML shares are down around 10 percent in European trading. And futures tied to the tech-focused Nasdaq 100 are off nearly 4 percent ahead of the U.S. Open.

Activist investor Ancora Holdings is preparing to wage a proxy battle at U.S. Steel, urging the company to turn the page from its failed tie-up with Japan's Nippon Steel. According to people familiar with the matter, Ancora intends to rally shareholders to oust U.S. Steel's chief executive and drop litigation aimed at salvaging a merger with Nippon, which was blocked by the Biden administration and is opposed by President Trump.

And the U.S. and its close economic partner, Colombia, averted a trade war yesterday after Colombia agreed to White House demands that it accept deportees. President Trump had warned the South American country yesterday it could face 25 percent tariffs if it didn't allow a pair of military planes carrying migrants to land there.

The standoff came as U.S. authorities made more than 950 arrests Sunday in a slew of deportation raids in cities including Chicago, Los Angeles, Houston, and Denver. Asian stocks have ended the day broadly lower, European stocks are down in midday trading, and U.S. stock futures are pointing to a lower open ahead of a busy week in earnings and the release of new home sales data for December due out at 10 a.m. Eastern.

And we've got a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts. In the modern enterprise, the CIO is more than just a technology leader. On the fourth episode of Tech Fluential, Deloitte's Lou DiLorenzo talks with Tim Buckley, former CEO and chairman at Vanguard, and John Marcante, former CIO at Vanguard and Deloitte's CIO-in-Residence.

Together, they define what tech leadership can look like and how that can impact the C-suite and the board. Where technology and influence converge, new opportunities can emerge. That's Tech Fluential, a podcast from Deloitte and custom content from WSJ.