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The World in Brief from The Economist

Tech stocks plunge; Justice Department officials sacked, and more

The World in Brief from The Economist

The Economist

News, Daily News, News & Politics, Global News

4.11.2K Ratings

🗓️ 28 January 2025

⏱️ 6 minutes

🧾️ Download transcript

Summary

Nvidia’s share price fell by 17%, wiping more than $589bn from the American chipmaker’s market value—the biggest daily decline of a public company.

Transcript

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0:00.0

Hello, you're listening to the free edition of the world in brief from The Economist.

0:11.2

As a reminder, if you subscribe to The Economist, you'll get access to a deeper look at the day ahead, updated three times a day.

0:20.1

If you're already an Economist subscriber,

0:22.6

visit Economist.com slash espresso or visit our espresso app to start listening. Here's today's

0:29.5

free edition.

0:35.5

This is the world in brief from The Economist.

0:42.2

Our top stories.

0:45.5

NVIDIA's share price fell by 17%,

0:48.8

wiping more than $589 billion from the American chipmaker's market value.

0:55.2

The biggest daily decline of a public company.

0:58.4

The tech-heavy NASDAQ index dropped by more than 3%.

1:02.2

Investors reacted to reports that Deepseek, a Chinese artificial intelligence firm,

1:09.4

can train models to get similar results to those achieved

1:12.4

by American rivals but using fewer chips. Some fear this will cut demand for AI hardware. America's

1:21.4

Justice Department sacked more than a dozen lawyers who worked on criminal prosecutions against Donald Trump.

1:29.0

The cases in which Mr. Trump was charged with election interference and mishandling classified documents

1:35.5

were led by Jack Smith, the special counsel, who has already resigned. A DOJ spokesman

1:42.2

told media outlets that James McKenry, the acting attorney general, does not trust those officials to faithfully implement the president's agenda.

1:52.6

The Rwanda-backed M23 rebels in the Democratic Republic of Congo, marched into the east city of Goma after assaulting it on Sunday.

2:03.2

The Congolese government, which insisted that its troops still controlled the majority of

2:08.6

Goma, accused Rwanda of declaring war and cut diplomatic ties.

2:14.0

Paul Kagame, the president of Rwanda, and Felix Chizikadi, his Congolese counterpart, agreed to hold talks on Wednesday.

...

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