{
  "id": 18334752,
  "title": "Chip selloff drags global stocks lower on AI spending concerns",
  "url": "https://urgent.news/2026/11/05/chip-selloff-drags-global-stocks-lower-on-ai-spending-concerns",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-05T16:36:30.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/chip-selloff-drags-global-stocks-lower-ai-spending-concerns-6526136"
  },
  "original_language": "en",
  "account": "Global stocks suffered on Thursday as semiconductor shares experienced a sharp sell-off following weak earnings from Qualcomm and concerns that a Democratic-controlled US Congress may hinder investments in artificial intelligence infrastructure. Major US indexes, including the Nasdaq, Nasdaq Composite, Dow Jones Industrial Average, and S&P 500, all declined significantly. Qualcomm's stock plummeted 11% after its smartphone chip sales fell short of Wall Street expectations. Analysts attributed the market's volatility to the upcoming midterm elections, with several candidates opposing data center expansion and advocating for moratoriums on new developments. The MSCI All-World index and Europe's STOXX 600 also experienced declines, dropping 2.5% and 0.67% respectively. Hedge funds have been heavily shorting semiconductor and neocloud stocks, with many still bearish on the sector despite recent share price recoveries. Oil prices reversed course, rising 2.58% to $97 a barrel as investors reconsidered the impact of the US conflict with Iran. Bond prices eased, and the US dollar gained against the euro and pound sterling after the Bank of England raised interest rates for the first time since 2023.",
  "summary": null,
  "key_points": [
    "Semiconductor shares sharply decline after weak Qualcomm earnings",
    "US Congress concerns hinder AI infrastructure investments",
    "Major US indexes drop significantly amid midterm election uncertainty"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}