GLOBAL STOCKS PLUNGE AMID AI SLOWDOWN FEARS AFTER DEMOCRAT MIDTERM TRIUMPH | STOCK MARKETS

What happened: European stocks fell sharply as a US tech rout spread to Asia and London, after the Democrats' midterms victory sparked fears of an AI industry slowdown. Key numbers: FTSE 100 down 207 points, or 1.9%, at 10,575. Dax fell 1.9%, Cac 40 1.5%, Ibex 1.1%. Why it matters: Susannah Streeter of Wealth Club said datacentre build-out looks set to slow, risking the spending underpinning the boom. IG's Chris Beauchamp said there is a risk of much more selling to come. Jefferies' Mohit Kumar said he does not see this as the start of the unwind of the AI trade. Coverage: 9 outlets in 24h

European stocks fell sharply as a US tech rout spread to Asia and London, after the Democrats' midterms victory sparked fears of an AI industry slowdown.

Susannah Streeter of Wealth Club said datacentre build-out looks set to slow, risking the spending underpinning the boom. IG's Chris Beauchamp said there is a risk of much more selling to come. Jefferies' Mohit Kumar said he does not see this as the start of the unwind of the AI trade.