Business · Markets · 3 hrs ago
Global tech sell-off hits chip stocks, while Swiss market falls less
Investors sold technology and chip shares worldwide after US midterm results raised fears that stronger Democrats could tighten rules on artificial intelligence and slow data-centre construction.
The sell-off hit US and Asian markets, with semiconductor shares among the biggest losers and Nvidia falling sharply.
The Nasdaq fell 5% on Thursday and stood 11% below its October high, entering what is commonly called a correction.
Switzerland’s SMI fell to 14,726 points on Friday morning, but its losses were smaller than those in global technology markets.
Swiss chip suppliers AMS Osram, Comet, Inficon and VAT had already fallen by 6.5% to 13% on Thursday.
The scale of the losses reflects concern about the outlook for AI-related businesses, whose share prices had risen on expectations of strong future growth.
Investors were watching US employment figures due later on Friday, while the Swiss National Bank was set to publish October foreign-exchange reserves.
Global technology stocks fell sharply, led by semiconductor shares, after investors feared US Democrats would tighten regulation of artificial intelligence and limit data-centre expansion.
The Nasdaq 100 lost 6.4% the previous day, its biggest daily fall since the 2020 pandemic crash, according to Tages-Anzeiger.
The Swiss Market Index fell to 14,726 points on Friday morning, but the Swiss market was less affected than the global technology sell-off.
Swiss semiconductor suppliers AMS Osram, Comet, Inficon and VAT had already dropped between 6.5% and 13.0% the previous day.
- Who
- Technology and semiconductor stocks fell globally, while the Swiss market declined less.
- What
- A global technology sell-off hit chip stocks and weighed on markets.
- When
- Friday, 6 November 2026; the sharp US sell-off took place the previous day.
- Where
- US and Asian markets, as well as the Swiss stock market.
- Why
- Investors feared stronger US regulation of artificial intelligence and restrictions on data-centre expansion after the US midterm elections.
This story does not have two clearly opposing sides.
US technology shares sold off sharply, with the Nasdaq 100 falling 6.4% according to Tages-Anzeiger.
The SMI fell to 14,726 points, while the Swiss market was described as coming through the global technology sell-off relatively lightly.
- Swiss Market Index
- 14,726 points on Friday morning
- Nasdaq 100
- Fell 6.4% the previous day
- iShares Semiconductor ETF
- Fell 12.1%
- Swiss semiconductor suppliers
- AMS Osram, Comet, Inficon and VAT fell 6.5% to 13.0% the previous day
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What people are saying
Der Ausverkauf zeigt, dass die KI-Aktienkurse auf rosigen Illusionen über die Zukunft aufgebaut waren, und nun ist diese Illusion verflogen