Tech stocks battered as US poll result fuels AI fears

Bangkok Post · AFP · 2026-11-06 11:45 UTC

LONDON - Technology shares plunged on Friday after an unnerving rout on Wall Street as fears grew that Democrats would accelerate a backlash against AI after their crushing defeat of President Donald Trump’s Republicans in the US midterm elections.

LONDON - Technology shares plunged on Friday after an unnerving rout on Wall Street as fears grew that Democrats would accelerate a backlash against AI after their crushing defeat of President Donald Trump’s Republicans in the US midterm elections.

The Tokyo and Seoul stock markets closed out their weeks with losses of six percent following the Nasdaq’s 5.5% collapse on Thursday, its worst showing since April last year when Trump unveiled his wide-ranging global tariffs.

“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,” said Susannah Streeter, chief investment strategist at Wealth Club.

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