Tech stocks plunge as US midterm results fuel fears of tighter AI rules
Asian tech stocks fell sharply on Friday, with Seoul and Tokyo leading losses after a Wall Street sell-off driven by fears of tighter AI regulation following Democrats’ US midterm election victory. Many winning candidates pledged to curb data centre...
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Source: France 24
Asian tech stocks fell sharply on Friday, with Seoul and Tokyo leading losses after a Wall Street sell-off driven by fears of tighter AI regulation following Democrats’ US midterm election victory. Many winning candidates pledged to curb data centre development amid opposition to the projects from across the political spectrum.
S&P 500 companies lost a record $2.9 trillion (€2.6 trillion) in market value on Thursday. Asian tech shares fell on Friday as investors weighed whether Democrats’ US midterm wins could lead to tougher rules on AI data centres.
Shares sank, with the tech-heavy Nasdaq dropping over 5%, as investors reacted with fear that a Democratic Congress — and states across the country -— would crack down on AI and data centers.
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