The superstar run for Nvidia’s stock the last few years has been astonishing. So was its tumble Monday, which caused $595 billion in wealth to vanish. That’s about as much as PepsiCo, McDonalds, Starbucks and Target are worth,

ASML stock rises after fourth-quarter bookings at the Dutch semiconductor equipment maker top analysts’ forecasts, T-Mobile smashes profit expectations, and Wall Street awaits quarterly earnings Wednesday from Tesla,

U.S. stocks slipped after the Federal Reserve held its main interest rate steady and broke a run of cuts that began in September

NASDAQ is losing ground as traders sell tech stocks. NVIDIA is the worst performer in the NASDAQ index today. Starbucks, which was up by 8.2%, was the biggest gainer in the index. The stock rallied as traders reacted to the better-than-expected earnings report.

Nvidia (NASDAQ: NVDA) stock fell 1.3%, a day after the chipmaker rallied to recover some of Monday’s steep losses suffered on Monday. Week to date, the stock is down more than 9% after the DeepSeek-sparked sell-off to start the week.

Plus: How AI propelled Nvidia up the list and other insights from this year's survey of corporate reputations.

U.S. equities were mostly lower at midday as the market waited for the latest comments from the Federal Reserve about the future of interest rates, which are coming later today. The Dow Jones Industrial Average was little changed, while the S&P 500 and Nasdaq fell.

The Nasdaq and other major indices declined following the Federal Reserve’s first meeting of the year, with the tech-heavy index falling 1.1% by the afternoon as investors digested the central bank’s cautious stance on interest rates.

Sonja Hutson Good morning from the Financial Times. Today is Tuesday, January 28th. And this is your FT News Briefing. US tech stocks took a nosedive after a Chinese AI company stunned the industry. Plus, Starbucks wants to brew up more business, so now you got to pay to be there. I’m Sonja Hutson, and here’s the news you need to start your day.

Shares in Nvidia (NVDA) plunged 17% on Monday, wiping $589bn (£473bn) off of the AI chipmakers market value, which marked the largest single-day loss in stock market history. The chipmaker led a sell-off across chip stocks and the broader market,