Global tech stocks plunge after US midterms amid AI slowdown fears
Trillions of dollars have been wiped off the stock market in the US, Europe and Asia, after the US midterm elections sparked concerns of a slowdown in artificial intelligence development.
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In the US, the tech-heavy Nasdaq share index fell 5.5% on Thursday, losing an estimated $2.5tn (£1.9tn) in market value, while other key US stock indexes also saw big losses.
Investors appear worried about tougher regulation of AI, after Democrat candidates expressed their opposition to the data centres that were needed to power the technology.
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