Global stocks tumble as AI panic grips markets after Democrats’ midterm success – business live

Rolling coverage of the latest economic and financial news, as Asia-Pacific markets slide after Wall Street rout Europe has joined the global selloff. The FTSE 100 index, which tracks blue-chip shares listed in London, has dropped by 166 points, or over 1.5%, at the start of trad

Rolling coverage of the latest economic and financial news, as Asia-Pacific markets slide after Wall Street rout Europe has joined the global selloff. The FTSE 100 index, which tracks blue-chip shares listed in London, has dropped by 166 points, or over 1.5%, at the start of trading to 10,615 points. Most of the hundred stocks on the index are down.

“The tech sell-off has intensified, with the pain of the brutal sell-off on Wall Street carried straight through to Asia and knocking sentiment in Europe. Big worries are colliding – the build-out of data centres looks set to slow, which risks shredding the spending spree underpinning the boom, right at the time that investors have become super nervous about returns on this massive investment. Continue reading...