Part 2/6:
The rapid ascent of this Chinese enterprise resulted in an astonishing drop for American technology firms, with one prominent processor manufacturer alone losing nearly $600 billion in market value. The total fallout saw the broader tech sector suffer a whopping $1 trillion loss across the United States and Europe. Giant corporations like Microsoft and Oracle—well-known leaders in AI—also experienced significant declines, contributing to an overall 3% decrease in the Nasdaq index, which closely tracks tech stocks.