Tech Stocks Plunge as US Midterm Results Fuel Fears of Tighter AI Rules
Investors sold chipmakers and data-centre firms as Democrats’ election gains stoked fears of tighter AI rules and slower infrastructure spending, wiping out about $3 trillion.
- On Friday, Asian markets including Tokyo and Seoul plunged as investors reacted to overnight US technology stock losses, with the Nikkei 225 and Kospi both falling more than 6 per cent in early trading.
- The tech-heavy Nasdaq Composite dropped 5.52 per cent on Thursday as investors grew concerned about tighter artificial intelligence regulation following the Democratic victory in US midterm elections.
- Chip-Related shares saw sharp declines across Asia, with Samsung Electronics plunging nearly 10 per cent, SK hynix falling more than 11 per cent, and Tokyo Electron dropping around 9 per cent while Kioxia shed 13 per cent.
- Seoul's Kospi index dived 8.5 per cent to 4,923, triggering a circuit breaker that suspended trading for 20 minutes, while analysts noted investor unease over Senator Bernie Sanders' call for a national moratorium on data center construction.
- President Donald Trump blamed the crash on Democratic election results, writing on Truth Social that "The Stock Market crashed today because the Dumocrats had a big Tuesday," as rising oil prices further dampened investor sentiment.
52 Articles
52 Articles
With their demonstrative support for Donald Trump, leading tech billionaires hoped for an innovation-friendly policy. But democrats' electoral successes could cripple their accounts: instead of backing, stricter rules and stricter controls threaten. At stake are billions of investments, while a political power struggle for the future of artificial intelligence begins.
FTSE 100 plunges as $3tn wiped off global markets in AI sell-off sparked by fears of tech bubble
London’s stock market has been swept into a global technology sell-off after mounting fears over an artificial intelligence bubble triggered billions of dollars in losses across the world’s biggest companies,… The post FTSE 100 plunges as $3tn wiped off global markets in AI sell-off sparked by fears of tech bubble appeared first on London Business News
The wave of sales from the US has hit the stock exchanges in Europe and Asia. Concerns about the future regulation of AI put investors under pressure. How much does it hit the chip values?
The actions of the technological giants plummeted this Friday in the Asian stock exchanges, as happened the day before on Wall Street, in view of the prospect of greater regulation of artificial intelligence with the triumph of the Democrats in the elections of the United States.The main victims were the companies of semiconductors and microchips, indispensable for the data centers where the models of AI are trained and developed.In South Korea,…
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