{
  "id": 18506639,
  "title": "Tech stocks suffer bloodbath as US midterms fuel AI fears",
  "url": "https://urgent.news/2026/11/06/tech-stocks-suffer-bloodbath-as-us-midterms-fuel-ai-fears",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-06T12:58:23.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/11/1572414/tech-stocks-suffer-bloodbath-us-midterms-fuel-ai-fears"
  },
  "original_language": "en",
  "account": "Technology stocks tumbled on Friday following a sharp decline on Wall Street, as fears mounted that Democrats would intensify their opposition to AI following their decisive victory in the U.S. midterm elections, according to a report by New Straits Times Press (M). The Tokyo and Seoul stock markets also closed the week with a 6% loss, following a 5.5% plunge on the Nasdaq on Thursday, marking its worst performance since April 2022. Susannah Streeter, chief investment strategist at Wealth Club, noted that the market turmoil has spread to Asia and Europe, with investors expressing growing apprehension about the potential slowdown in data center construction. This comes amid heightened concerns over the billions of dollars poured into the sector and the uncertain timeline for investors to recoup their investments. Analysts cited a call from Senator Bernie Sanders for a ban on the construction of data centers as another factor fueling market jitters. The Philadelphia Semiconductor Index fell by 16% this week, signaling a potential record decline since April last year. In South Korea, chipmaker SK Hynix fell by 10%, while Samsung dropped by 6.4%. On the Tokyo market, SoftBank's holdings declined by over 10%, and Kioxia shed 8.7% while Advantest fell by 5%. Despite concerns about a potential momentum shift in the market, some analysts suggested that the recent sell-off may be overdone.",
  "summary": "LONDON: Technology shares plunged 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.",
  "key_points": [],
  "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."
}