Japanese Stocks Sink as U.S. Midterm Results Hit Tech Shares
8 Articles
8 Articles
Asian markets mixed as tech stocks slide and US midterm news weighs
Asian equity markets traded largely lower on Wednesday as technology shares dropped on news of early US midterm election results favoring Democrats, raising regulatory and growth concerns. Japan’s Nikkei 225 (NKY:IND) fell 1.83% to 61,975 level,
The clear victory of the democrats fuels fears of slower AI expansion. In Japan, investors react with sales – and losses are also evident on the US stock exchanges.
Nikkei extends losses, down over 4%, after U.S. Democrats win House
The Nikkei stock index extended losses, falling more than 4 percent on Wednesday afternoon, after media projections showed that Democrats have retaken control of the House of Representatives in the U.S. midterm elections.
As the US midterm elections show the Democrats expected to gain a majority in both houses of Congress, the Nikkei 225 index fell by over 3,000 yen at one point. The index continued its sharp decline in the afternoon of the 4th, briefly falling to nearly 60,000 yen, its lowest level since May. With the US midterm elections underway and the Democrats, who are seen as favorable to AI regulation, increasingly likely to gain a majority in both houses…
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