{
  "id": 18500778,
  "title": "Global tech stocks suffer bloodbath as US midterms fuel AI fears",
  "url": "https://urgent.news/2026/11/06/global-tech-stocks-suffer-bloodbath-as-us-midterms-fuel-ai-fears",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-06T12:17:21.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2042565/global-tech-stocks-suffer-bloodbath-as-us-midterms-fuel-ai-fears"
  },
  "original_language": "en",
  "account": "Technology shares plummeted on Friday following the US midterms, as concerns mounted that Democrats would intensify backlash against artificial intelligence. Stock markets in Tokyo and Seoul dropped 6% after the Nasdaq's 5.5% fall on Thursday, the worst performance since April 2022. Susannah Streeter, an investment strategist, explained that the tech sell-off had intensified, dragging down sentiment in Europe. Big worries included the potential slowdown in data center expansion, which could negatively impact a boom driven by spending. The London, Paris, and Frankfurt markets also dropped around 2%, while the dollar strengthened before US jobs data. Analysts were concerned about the hundreds of billions poured into AI firms and when they would see returns, especially with rising borrowing costs. The Philadelphia Semiconductor Index fell 16% this week, on track for its worst week since April 2022. Chip giants SK hynix and Samsung lost 10% and 6.4%, respectively, while the Kospi index more than doubled in value over the past four and a half months but is down nearly 50% now. Japanese tech investor SoftBank, a key supporter of AI, saw its stock drop over 10%, and TSMC, a Taiwanese chipmaker, fell 4.7%. Analysts noted that the selloff might be overdone, but the fear of a total momentum unwind, particularly due to Democrats' efforts to halt data center projects, persisted.",
  "summary": "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 midterms . The Tokyo and Seoul stock markets closed out their weeks with losses of six per cent following the Nasdaq’s 5.5pc collapse on Thursday, its worst showing since April…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Hedgeweek",
        "title": "Tiger Global, Whale Rock and D1 suffer losses in October AI selloff",
        "url": "https://urgent.news/2026/11/06/tiger-global-whale-rock-and-d1-suffer-losses-in-october-ai-selloff",
        "published": "2026-11-06T10:22:00.000Z"
      }
    ]
  },
  "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."
}