European Markets Rebound After DeepSeek's Impact on AI Stocks

European stocks made slight gains on Tuesday due to improvements in utilities and media stocks despite recent market turmoil caused by the Chinese AI startup, DeepSeek. The STOXX 600 edged up by 0.2% as fears over AI sector valuations led to a significant selloff, particularly affecting Nvidia's market value.

European shares made slight gains on Tuesday, bolstered by a rally in utilities and media stocks. This resurgence comes in the wake of a global market upheaval triggered by uncertainty surrounding the Chinese AI startup, DeepSeek.

The STOXX 600 climbed 0.2% by 0815 GMT, as investors began to regain confidence following the selloff that questioned AI stocks' high valuations. Notably, Nvidia suffered a $593 billion hit, a record single-day loss for any company.

Amidst the turbulence, the European technology index recorded a 0.3% increase. Major gainers included Alten, rising by 7.8% due to positive annual results, and Siemens Energy, up 3.4% after exceeding revenue expectations.

(With inputs from agencies.)