Global Tech Stocks Plunge as US AI Slowdown Fears Spread to Asia and Europe Markets
As tech stock falls continue into the morning, our correspondents have been digesting the news.
Some of the biggest losses have been felt in the US, where a trillion dollars was wiped off the stock value of seven of the world's biggest tech companies - including Apple and Tesla.
North America technology correspondent Lily Jamali writes that midterm election results in the US - where a number of victorious Democrats campaigned on anti-tech platforms - are being seen as a rebuke by voters of AI and data centres.
This week it was the turn of the US public to speak after tech bosses have dominated the narrative for so long, writes technology and AI editor Zoe Kleinman. But, she says, a slowdown in building expensive data centres could offer some of the US tech giants breathing space.
Economics editor Faisal Islam says this is not "outright panic", and instead feels like a corrective reappraisal of the value of stocks as a result of the now-less supportive political environment in the US.
You might be left asking, what does this all mean for me?
Cost of living correspondent Kevin Peachey describes how a fall in tech stocks could affect your pension - though we should remember these investments are designed to ride out any short-term fluctuations.
(Source: BBC)





