Global market downturn spreads to the UK and Europe after a US tech stock sell-off

Summary

Global markets tumbled on Friday 6 November after a US tech stock sell-off, the Asian markets following turmoil on the US stock markets to drop firmly lower, The Independent and the Evening Standard reported. Asian tech stocks sank amid the global sell-off, the Financial Times reported, the Nikkei 225 falling below 60,000 points for the first time since May and Seoul's Kospi going under 5,000 points. S&P 500 companies lost a record $2.9 trillion (€2.6 trillion) in market value on Thursday, Euronews reported, headlining that the global stock rout deepens as AI data centre fears fuel the worst US chip sell-off since 2020, and Asian tech shares fell on Friday as investors weighed whether Democrats' US midterm wins could lead to tougher rules on AI data centres. The global market downturn then spread to the UK and Europe amid the tech sell-off, the Evening Standard and The Independent reported, analysts linking the weakness to Democrat victories in the US mid-term elections and concerns over a potential AI 'bubble', The Independent headlining that the FTSE 100 plunges and The Guardian reporting a sharp fall in Asian and European markets after the sell-off on Wall Street, with the FTSE down 1.5%.

Latest: Global markets tumbled after a US tech stock sell-off, the Asian markets dropping firmly lower on Friday morning, and the downturn spread to the UK and Europe, The Independent and the Evening Standard reported, analysts linking the weakness to Democrat victories in the US mid-term elections and concerns over a potential AI 'bubble', with the FTSE down 1.5%, according to The Guardian.

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