In New York, the Dow Jones Industrial Average fell 406.55 points to 52,146.42, extending its losses. Concerns over intensifying competition grew after China unveiled a new AI model, while higher oil prices also weighed on sentiment. The S&P 500 dropped 76.08 points to 7,457.69, and the Nasdaq slid 361.71 points to 25,520.24. The yield on the 10-year US Treasury note fell to 4.546 percent, while West Texas Intermediate crude futures rose to 82.49 dollars a barrel.