Global stocks plunge amid AI slowdown fears after Democrats’ midterm triumph
Source: The Guardian ·
Sell-off on Wall Street followed by sharp fall in Asian and European markets, with FTSE down 1.5%Business live – latest updatesEuropean stock markets have fallen sharply as a rout in US tech stocks spread across the Atlantic, after the Democrats’ midterms victory sparked fears of a slowdown in the AI industry.A sell-off on Wall Street on Thursday was followed by sharp falls in Asian stocks…
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European stock markets have fallen sharply as a rout in US tech stocks spread across the Atlantic, after the Democrats’ midterms victory sparked fears of a slowdown in the AI industry. A sell-off on Wall Street on Thursday was followed by sharp falls in Asian stocks markets on Friday morning. The investor sentiment then reached London, with the FTSE 100 index, which tracks blue-chip shares listed in London, down 1.5%, or 166 points, at the start of trading to 10,615. The pharmaceuticals company AstraZeneca opened down 2.8%, the biggest faller on the FTSE 100. Other big fallers included IAG, the owner of British Airways and Iberia, which fell 1.5%, after it missed profit forecasts in a trading update, and the miners Antofagasta and Anglo American. Germany’s Dax index opened down 1.5%, France’s Cac 40 has dropped by 1.2% and Spain’s Ibex is down 1.1%. Susannah Streeter, the chief investment strategist at Wealth Club, said: “The tech sell-off has intensified, with the pain of the brutal…