The recovery came after US chipmaker Nvidia closed up 9 per cent on Tuesday, recouping some of the heavy losses that wiped $600bn off its market capitalisation at the start of the week, when investors fretted over the threat from China’s DeepSeek to the US supremacy in artificial intelligence.

Wall Street had a shock to the system on concerns that a cheap artificial intelligence-model from Chinese startup DeepSeek could make valuations that have powered the bull market tough to justify. From New York to London and Tokyo,