HOW DEMOCRAT US MIDTERM VICTORY TRIGGERED A GLOBAL TECH STOCK ROUT OVER FEARS OF AI SLOWDOWN

What happened: A Democratic sweep in the US midterm elections triggered a global sell-off in technology stocks, with investors fearing tighter scrutiny of AI development and slower data center expansion. Key numbers: Nasdaq Composite fell 5.5 per cent, S&P 500 4.4 per cent, Nasdaq 100 6.4 per cent. Why it matters: Several winning Democrats campaigned against data centers and AI expansion, and strategists cited a slowdown in data center buildout as the theme likely to stick. Investors are also questioning whether the amounts spent on AI infrastructure will generate expected returns. Coverage: 4 outlets in 24h

A Democratic sweep in the US midterm elections triggered a global sell-off in technology stocks, with investors fearing tighter scrutiny of AI development and slower data center expansion.

Several winning Democrats campaigned against data centers and AI expansion, and strategists cited a slowdown in data center buildout as the theme likely to stick. Investors are also questioning whether the amounts spent on AI infrastructure will generate expected returns.