Business · Markets · 8 hrs ago

Asian stocks plunge as AI selloff deepens after US midterms

Asian stocks plunge as AI selloff deepens after US midterms

Asian markets plunged on Friday as investors sold shares tied to artificial intelligence.

Taiwan, South Korea and Japan led the losses, with their technology-heavy markets especially exposed to the AI industry.

The selling followed a steep fall in US technology stocks and came after Democrats won control of Congress in the US midterm elections.

Investors fear the election result could threaten AI growth and data-centre investment, though the sources do not detail specific policy changes.

Taiwan's Taiex fell 4.51% after opening down 8.85%, while South Korea's Kospi dropped 6.02% after trading was briefly halted.

Japan's Nikkei fell 5.96%, and major chip companies in South Korea also lost ground.

The sharp falls show how vulnerable markets are to shifts in confidence about AI, and Taiwan's financial regulator said it would consider market-stabilising measures.

5 sources

Related