Global stocks plunge amid AI slowdown fears after Democrats’ midterm triumph

Asian and European markets follow Wall Street with sharp fall as FTSE down 1.9%

European stock markets have fallen sharply as a rout in US tech stocks spread across the Atlantic, after the Democrats’ midterms victory sparked fears of a slowdown in the AI industry.

A sell-off on Wall Street on Thursday was followed by sharp falls in Asian stocks markets on Friday morning. The investor sentiment then reached London, where the market is poised for its worst day since March.