Global Tech Selloff Sends Nasdaq Futures Down 776 Points

Nasdaq-100 Index (NDX) futures are down 776 points premarket, after the success of China-based artificial intelligence (AI) startup DeepSeek, which is making waves due to its cost-effectiveness. Its emergence triggered a global tech selloff, including chip leader Nvidia (NVDA), which is down 11.5% ahead of the open today. Futures on the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are both down triple digits as well, while a drop in Treasury yields has investors rushing to safe-haven assets. 

Continue reading for more on today's market, including: .

• Which sectors reacted the most after Trump took office. 
• Bank stock with technical support in place. 
• Plus, SOFI drops on downbeat forecast; T rises on earnings beat; and DHI gets downgraded.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 2.3 million call contracts and over 1.2 million put contracts exchanged on Friday. The single-session equity put/call ratio fell to 0.52 and the 21-day moving average dropped to 0.60.
2. SoFi Technologies Inc (NASDAQ:SOFI) is down 15.2% before the bell. Amid the broader-market tech selloff, the company shared a downbeat revenue forecast, which is overshadowing its upbeat fourth-quarter results. Looking to pull back sharply from Friday's three-year highs, SOFI is up 134.2% year over year. 
3. AT&T Inc (NYSE:T) is up 2.3% in electronic trading, after the telecommunications giant posted better-than-expected fourth-quarter earnings and revenue. On track for its eighth win in nine sessions, T is up 32.2% since last January. 
4. Construction stock D.R. Horton Inc (NYSE:DHI) is down 0.7% premarket, after a downgrade from BofA Global Research to "neutral" from "buy." Year over year, DHI is up just 1%. 
5. Interest rate update due out this week. 

Asian Stocks Mixed After Inflation, Industrial Data 

Stocks in Asia showed mixed performances Monday, as traders analyzed manufacturing and industrial profit data from China. Factory activity in the country saw a surprise contraction for January, with the official purchasing managers’ index (PMI) registering at 49.1, signaling a slowdown. However, industrial profits posted an 11% year-over-year increase in December. In response, Hong Kong's Hang Seng Index rose 0.7%, while China's Shanghai Composite moved fractionally lower. Japan's Nikkei slipped 0.9%, weighed down by a pullback in semiconductor stocks. South Korean markets were closed for a holiday.

European markets trade lower this afternoon, as investors focus on upcoming corporate earnings and the European Central Bank’s (ECB) highly anticipated interest rate decision, due out on Thursday. At last check, Germany's DAX is down 0.9%, France's CAC 40 slips 0.6%, and London's FTSE 100 inches 0.2% lower.