European stock markets fell sharply as a rout in US tech stocks spread across the Atlantic. The sell-off was linked to fears of a slowdown in the AI industry, which followed the Democrats’ victory in the midterms.
A sell-off on Wall Street on Thursday was followed by sharp falls in Asian stock markets on Friday morning. Investor sentiment then reached London.
The FTSE 100 index, which tracks blue-chip shares listed in London, was down 1.5%, or 166 points, at the start of trading at 10,615.
The sell-off has moved from Wall Street to Asia and then Europe, with markets in London opening lower as the selling continued.
