DeepSeek topped the Apple AppStore chart and sparked fears the Chinese company is quickly catching up with OpenAI's ChatGPT while costing far less.

By Nikhil Sharma (Reuters) -European shares slid on Monday as the technology sector joined the retreat in other markets after China's upgraded low-cost, low-power artificial intelligence (AI) model sparked worries about the profits of rivals and the need for costly chips.

The Nasdaq could face market-cap losses of nearly $1 trillion if premarket declines hold into the close of trading.