- Global stock markets have experienced a sharp downturn following a massive sell-off of technology shares, driven by concerns over a potential artificial intelligence bubble and Democratic success in the US mid-term elections.
- The tech-focused Nasdaq 100 index plunged by 6.4 per cent as roughly three trillion dollars was wiped off major US equity markets, with Nvidia falling over 9 per cent and Elon Musk's Tesla dropping around 10 per cent.
- Asian financial markets mirrored the Wall Street turmoil, with Japan's Nikkei index sliding by approximately 6 per cent below the 60,000 point mark alongside significant slumps in South Korea's Kospi index.
- Market analysts highlighted that the rapid decline across chipmakers and data centre operators suggests the frantic boom in the AI sector may have finally reached a boiling point.
- Donald Trump described the market crash on Truth Social as one of the worst days in history, blaming Democratic election victories for causing the widespread financial instability.
