{
  "id": 18537484,
  "title": "Asia tech firms suffer bloodbath as US midterms fuel AI fears",
  "url": "https://urgent.news/2026/11/05/asia-tech-firms-suffer-bloodbath-as-us-midterms-fuel-ai-fears",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-05T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/737617/business/asia-tech-firms-suffer-bloodbath-as-us-midterms-fuel-ai-fears"
  },
  "original_language": "en",
  "account": "On Friday, Asian tech firms faced a significant decline in their market values as investors reacted to the results of the US midterm elections, which many viewed as fuel for potential increased regulation of the AI industry. The Nikkei 225 in Tokyo fell by 6.0% to 57,434.77 points, the Seoul Kospi dropped 6.0% to 5,059.69 points, Hong Kong's Hang Seng Index closed down 1.3% to 24,481.86 points, and Shanghai's Composite ended down 1.1% to 3,649.18 points.\n\nThe trading day started with a negative outlook, as data centers faced opposition from US voters, and some midterm winners pledged to curb AI buildout projects. Fears were further heightened by Bernie Sanders' call for a national moratorium on AI buildout. Analysts pointed out that investors were worried about the hundreds of billions invested in the sector and the uncertain returns.\n\nThe market's already high valuations amplified the concerns, leading to a sell-off. Michael Hewson of MCH Market Insights noted that investors were selling due to fears of greater opposition to AI buildout plans, with Texas being a potential target for Tesla and SpaceX, given their support for Trump. The Nasdaq in New York plummeted 5.5%, its worst percentage-wise day since April 2022, while the S&P 500 and Dow Jones both dropped more than 3%.\n\nThe decline in Asian markets also mirrored a sharp decline in the semiconductor sector, with the Philadelphia Semiconductor Index falling around 16%. The bloodbath in the tech sector extended across multiple countries, including Seoul, Tokyo, Hong Kong, Shanghai, and others. This market turmoil was attributed to concerns about AI regulation, a rise in oil prices, and the anticipation of US jobs data.",
  "summary": "Tech firms suffered a bloodbath on Asian markets on Friday as investors tracked a collapse on Wall Street fuelled by fears that Democrats will ramp up regulation of the AI industry following their blo...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Quartz",
        "title": "Tech stocks rebound after a massive AI selloff spread to Asia",
        "url": "https://urgent.news/2026/11/06/tech-stocks-rebound-after-a-massive-ai-selloff-spread-to-asia",
        "published": "2026-11-06T15:30:30.000Z"
      }
    ]
  },
  "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."
}