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The major stock market indexes are still up since Election Day despite recent turbulence caused by DeepSeek and Trump Tariffs 2.0 (chart). The former is weighing on the shares of AI companies. However, cloud giants Amazon, Microsoft, and Google remain committed to spending record sums this year to build out their AI capacity. Asked last week about the AI cost efficiencies represented by DeepSeek’s widely followed advances, Amazon CEO Andy Jassy echoed the sentiments of other tech leaders in saying that he expects the trend to increase overall AI demand.
Trump Tariffs 2.0 hit the stock market hard on Friday after President Donald Trump said he plans to announce reciprocal tariffs on many countries by Monday or Tuesday of this coming week, a major escalation of his offensive to tear up and reshape global trade relationships in the America's favor.
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