Tech stocks drop after Democratic midterm win, then AI shares rebound
Major tech companies lost trillions in market value after Democrats won the U.S. midterms, apparently on fears of slower AI growth, and AI stocks then began to recover, according to France 24 and the BBC.
Major tech companies lost trillions of dollars in stock value after Democrats won the U.S. midterm elections, France 24 and the BBC report. AI-linked shares then climbed, the BBC says.
France 24 says the losses hit tech firms in the U.S., Europe and Asia. It says investors appear worried about an AI slowdown and tougher regulation.
The BBC also links the selloff in part to concerns that a Democratic victory would slow AI development.
France 24 adds that some Democratic candidates had voiced opposition to the data centres that power AI technology.
The BBC did not say in its report how far AI stocks have recovered.
Reported by
- France 24Tech giants lose $1 trillion in one day after Democrats victory in midtermsFri, Nov 6, 8:15 AM EST
- BBC NewsAI stocks climb after trillions wiped from market valuesFri, Nov 6, 10:04 AM EST
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