Live from the NASDAQ market site in the heart of New York City's Times Square, this is fast money.

Here's what's on tap tonight.

AI in retreat claims of a cheaper, more powerful chat bought out of China sending big tech sinking in Nvidia to its worst day since the start of the pandemic.

Are other concerns overdone?

Or is the U.S. in a trade, is the U.S.

trade, AI trade in real danger? And out of energy, the once red hot nuclear energy

stocks getting crushed on that same news today. Vista Energy now negative for the year. Can

the sector rebound? We'll debate that too. Plus, a couple market bright spots in

today's sea of red. An activist investor tells U.S. Steel to go it alone. And we count down to the

first Fed meeting of the year, how the central bank is digesting all of this data, all the market

moves and everything else that we're working our way through. I'm Courtney Reagan in this evening

for Melissa Lee coming to you from Studio B at the

NASDAQ. Tonight we have Tim Seymour, Carter Worth, Steve Grasso, and Mike Co. But we are going

to start with the AI apocalypse, maybe question mark. China's deep seek ravaging names like

NVIDIA, Broadcom, AMD, Palantier, Microsoft, after its R1 reasoning model reportedly

outperformed Open AI and cost less than $6 million. Yes, million with an M to design.

Now, Nvidia losing nearly $600 billion in market cap just today. That's the largest single-day

loss in dollar terms ever.

That's more than the total valuation of names like MasterCard, United Health, and ExxonMobil.

The nearly 17% drop in flagship AI stock was its worst day since March 2020 and sent it below

its 200-day moving average for the first time in over two years.

The move in big tech dragging the broader markets down with it, the NASDAQ, seeing its worst day since December 18th, the SMP down percent and a half.

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