business
Tech Sell-Off Spreads From Wall Street to London and European Markets
London and European stocks fell Friday as a tech sell-off from Wall Street spread to global markets.
Key points
- The FTSE 100 fell 1.6% after opening and dropped to a four-week low on Friday morning.
- Japan's Nikkei fell around 6%, dipping below 60,000 points for the first time since May.
- The S&P 500 finished 4.4% lower and US markets lost around three trillion dollars in value.
Why it matters. The sell-off may signal a slowdown in the AI boom, and since listed multinationals depend on the global economy, London-listed firms are not immune to the fallout.
London's financial markets slid on Friday morning as a tech sell-off that began on Wall Street spread across global markets, wiping trillions of pounds off AI-focused chip and data centre firms. The FTSE 100 fell 1.6% after opening and hit a four-week low, while the FTSE 250 was about 0.8% lower. Japan's Nikkei dropped roughly 6%, falling below the 60,000 level for the first time since May, and Nasdaq 100 closed 6.4% lower with Nvidia down more than 9%.
Latest updates
Tech Sell-Off Spreads From Wall Street to London and European Markets
London's financial markets fell on Friday morning as a major sell-off in technology stocks on Wall Street spread globally. Shares of AI-focused companies, including chipmakers and data centre operators, suffered heavy losses. Analysts said the weakness reflected Democratic victories in the US midterm elections and concerns over a possible AI bubble. The sell-off wiped trillions of pounds off the value of the affected firms, according to reports. Investors are watching whether the decline in technology shares continues across European markets.
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