Wall Street’s A.I. Panic

Start Here

ABC News

Politics, Daily News, News

4.6 • 6.1K Ratings

🗓️ 28 January 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

American tech stocks plummet as China’s “DeepSeek” programs upend the artificial intelligence market. The Justice Department fires several prosecutors who worked on criminal cases against President Trump. And outbreaks of avian flu are affecting food prices around the country. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:22.0	Shopify is made for entrepreneurs like you.
0:24.5	Sign up for your $1 a month trial at Shopify.com slash setup.
0:30.1	It's Tuesday, January 28th.
0:32.4	That whole AI revolution everyone's waiting for might not be made in America.
0:36.6	You start here.
0:37.8	Stocks plummet for one of America's most valuable tech companies as a Chinese competitor
0:45.9	bursts on the scene. This deep seek model seems to be saying less is more. This was the
0:52.5	largest one-day loss in value we've ever seen, so what's got
0:56.6	the tech world so nervous? Government workers are being fired left and right. From the official
1:02.2	that I've spoken to in recent days, they're surprised how rapid this has been. Including the DOJ
1:07.7	lawyers who prosecuted the case against Donald Trump.
1:11.1	And if the eggshells look empty in your grocery store, you're not alone.
1:15.6	Most mornings were selling out within two hours.
1:17.7	Why cases of bird flu could sicken the broader economy.
1:22.7	From ABC News, this is Start Here.
1:26.2	I'm Brad Milkey.
1:33.2	Thank you. From ABC News, this is Start Here. I'm Brad Milkey. If you were watching the stock markets yesterday, say the S&P 500, or especially the NASDAQ, which is heavy in tech stocks, you could tell right away something was off.
1:45.0	As the opening bell sounded, there was this instantaneous drop.
	...

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