Global stocks fall amid ‘big worries over AI’ after Democrats’ midterms triumph

Asian and European markets follow US tech rout with many analysts predicting more waves of selling to come

European and Asian stock markets fell sharply on Friday after the Democrats’ decisive victory in the midterms triggered a rout in US tech stocks a day earlier.

A sell-off on Wall Street on Thursday was followed by sharp falls in Asian stock markets on Friday. The investor sentiment then reached London, where the market was, at one stage, poised for its worst day since March.

35%, at 10,528 points during a wave of selling in morning trading. But by the close of the day it had clawed back some of its losses to be down 1%, helped by a rise in US stocks when Wall Street reopened.