Global stocks fall as US tech sell-off hits Asia and Europe
A tech-led sell-off that began on Wall Street on Thursday spread to Asian and European markets on Friday, with investors citing fears of tighter AI rules after the Democrats' midterm win.
Stock markets fell across Asia and Europe on Friday after a sell-off in US tech shares. Outlets tie the losses to fears of curbs on AI following the Democrats' victory in the US midterm elections.
In London, the FTSE 100 was down 1.5%, or 166 points, at the start of trading, at 10,615, The Guardian reports. Deutsche Welle says European shares in general fell after the losses in Asia and on Wall Street.
The sell-off began on Wall Street on Thursday. Asian markets fell sharply on Friday, with Seoul and Tokyo leading the losses, according to France 24. Al Jazeera reports the rout continued through Asian trading.
Outlets give several reasons for the fall. France 24 and Al Jazeera cite fears of tighter AI regulation and limits on US data centre expansion. The Guardian cites fears of a slowdown in the AI industry. Deutsche Welle also points to doubts over huge AI investments.
France 24 reports that many winning candidates pledged to curb data centre development. It says opposition to such projects comes from across the political spectrum.
Reported by
- Deutsche WelleEuropean shares join a global sell-off as AI spending fears rattle Wall Street and Asian marketsThu, Nov 5, 9:41 PM EST
- France 24Tech stocks plunge as US midterm results fuel fears of tighter AI rulesFri, Nov 6, 12:02 AM EST
- Al JazeeraGlobal tech stocks plunge over fears of AI curbs in USFri, Nov 6, 2:24 AM EST
- Al JazeeraTech stock rout, driven by US AI fears, continues in Asian tradingFri, Nov 6, 3:41 AM EST
- The GuardianGlobal stocks plunge amid AI slowdown fears after Democrats’ midterm triumphFri, Nov 6, 3:58 AM EST
This story was written by AI using only the reports listed above, and published without a person reviewing it first. It is rewritten as new reports arrive. Read the original reporting for full detail. Spot an error? Tell us.
Earlier versions (2)
- Fri, Nov 6, 4:05 AM EST, 3 outlets: European stocks fall as US tech sell-off spreads after midterms
- Fri, Nov 6, 2:55 AM EST, 2 outlets: Asian tech stocks fall sharply after Wall Street sell-off following US midterms