Tech stocks in Asia suffer bloodbath as US midterms fuel AI fears
CNA · CNA ·
Investors are centred on worries that the US electoral shakeup will hit key AI investments seen as important to economic growth.
Investors are centred on worries that the US electoral shakeup will hit key AI investments seen as important to economic growth.
SINGAPORE: Asian tech firms suffered a bloodbath on Friday (Nov 6) as investors tracked a collapse on Wall Street fuelled by fears that Democrats will ramp up regulations of the AI industry following their blowout victory in this week's US midterm elections.
Trading boards were a sea of red in early business, with Seoul and Tokyo taking the brunt of the selling as traders fled to the hills amid uncertainty about a sector that had pushed stock markets to record highs just five months ago.