Global stocks plunge as fears over US AI slowdown spread to Asia and Europe

Global stock markets have tumbled after investors sold tech shares on fears that the US midterm elections would slow the development of artificial intelligence (AI).

The sell-off, which started in the US and then spread to Asia and Europe, has seen trillions of dollars wiped off the stock value of major tech firms.

In the US, the tech-heavy Nasdaq share index sank 5.5% on Thursday. Asian markets also saw hefty falls on Friday and European markets opened lower.

Investors are worried about tougher regulation of AI, after Democrat candidates opposed the data centres needed by the technology. The share falls also come on top of concerns about whether the huge amounts being spent on AI will pay off.