FTSE 100 Live: Stocks to drop as tech sell-off hits Asia after US midterms
Welcome back to City AM‘s FTSE 100 liveblog. It’s Wednesday morning and London’s blue-chip index looks primed to drop on open following a decline in oil prices and a sell-off in tech. Brent crude fell below $103 per barrel, extending the week’s decline as investors weighed up possible outcome of ongoing peace negotiations between the [...]
Welcome to City AM's FTSE 100 liveblog. This morning, London's blue-chip index appears set to fall upon opening following a dip in oil prices and a sell-off in tech stocks. Brent crude dropped below $103 per barrel, reflecting the uncertainty surrounding the upcoming peace negotiations between the US and Iran. Both nations are currently assessing new proposals presented by mediators in an attempt to resolve their differences.
The outcome of the US midterms has also cast a shadow over the market. Following the elections, Democrats regained control of both the Senate and House of Representatives. These political changes are expected to significantly impact the AI trade, with concerns over financing costs and the influence of politicians on the power grid.
In Asia, South Korea's Kospi index declined by 3.2%, closing at 5,466.83 points. This downturn was driven by a 3.2% drop in SK Hynix, a leading memory chipmaker, and a 1.8% decline in Samsung Electronics. We'll continue to provide updates throughout the day on all the latest economic and business news.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
