Business ·
Global shares tumble as AI concerns deepen technology sell-off
European and Asian markets fell sharply on Friday following a rout in US technology stocks. The downturn came after the Democrats’ decisive midterm victory, with many analysts warning of further selling.
Stock markets across Europe and Asia suffered steep losses on Friday, extending a technology-led sell-off that struck Wall Street the previous day. The decline followed the Democrats’ decisive victory in the US midterm elections and growing investor anxiety over artificial intelligence.
Asian exchanges fell sharply before the negative sentiment reached London. At one stage, the London market appeared headed for its worst session since March, illustrating how quickly the US technology downturn had spread through international markets.
Many analysts expect additional waves of selling, according to The Guardian. The scale of the global decline underscored the extent to which worries about AI were unsettling investors alongside the political developments in Washington.
Source: The Guardian
Written with AI from the linked source