A premarket tech stock selloff extended into the cryptocurrency market on Monday (January 27) ahead of a data-packed week that includes interest rate announcements from the US Federal Reserve and Bank of Canada.

The tech-heavy Nasdaq composite closed down nearly 3% on Monday, with shares of AI-focused chipmaker Nvidia plunging 17% and shaving nearly $590 billion from the company’s market cap.

Key Fed decision: The central bank’s expected decision today is the first following Trump’s return to office, which has been marked by a flurry of executive orders as the US president seeks to impose his agenda on Washington.

The semiconductor company's share price was down 7% as of 3:45 p.m. ET amid the backdrop of a 1.8% decline for the S&P 500 (SNPINDEX: ^GSPC) and a 3.5% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC).

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The billionaire investor says US stocks are in a “very similar” position as in the lead-up to the internet bubble bust at the turn of the millennium.

XRP (CRYPTO: XRP) is falling in Monday's trading. XRP and other cryptocurrencies are seeing sell-offs in today's trading due to a combination of bearish catalysts. In addition to concerns about a new artificial intelligence (AI) model launched by a Chinese company,

U.S. chip stocks were a mixed bunch with several joining Nvidia in the red. Cirrus Logic was down 2.2% while ARM Holdings' U.S. shares fell 2.1% and Broadcom lost 1.8%. On the other side of the fence Coherent Corp was up 3.6% and Advanced Micro Devices rose 2.6%. ASML's U.S. shares were last up 4.4%.

Asian shares are mostly higher in muted trading after the U.S. Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy through lower rates in Septe

Stock futures were near the flatline on Tuesday evening as investors turned toward the first Federal Reserve interest rate decision of 2025. Futures tied to the Dow Jones Industrial Average inched down 11 points, or 0.02%. Nasdaq 100 futures were 0.06% higher, while S&P 500 futures were flat.

Microsoft (MSFT) stock shed weight in the early going on Wednesday ahead of the Federal Reserve’s (Fed) latest interest rate decision, scheduled for 14:00 EST, and the mammoth tech conglomerate’s fiscal second-quarter results after the close.

U.S. stocks on Tuesday were regaining some ground after Monday's sharp selloff, with the S&P 500 and the Nasdaq Composite trading near their session highs as investors digested DeepSeek's AI advancement and awaited decisions from the Federal Reserve's first policy meeting of the year.