The Globe and Mail reports in its Tuesday edition that the S&P 500 and Nasdaq ended sharply lower on Monday as Nvidia and other chipmakers sold off after surging popularity of a low-cost Chinese artificial intelligence model raised investor worries about the outlooks for the current AI leaders. A Reuters dispatch to The Globe says that losses in Toronto were less intense, with defensive and rate-sensitive areas of the market staying firm thanks to a decline in bond yields. AI leader Nvidia sank 17 per cent, and it erased $593-billion (U.S.) in stock market value, the deepest ever one-day loss for a company on Wall Street, according to LSEG data. Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh, said there are many questions about the DeepSeek model and its impact. "Today is a drubbing for these [AI leader] stocks, but I don't necessarily think whatever's going to happen in the short while here -- the next couple of days -- is where they are ultimately valued," Ms. Forrest said. Power companies, which are expected to see higher demand from energy-intensive data centres needed to develop AI technology, also fell. The S&P/TSX Composite Index closed at 25,289.15 points, down 179.34.