Stock selloff goes global in worst rout in years
Investors fretted about the durability of the AI buildout under a Democrat-controlled Congress, with chipmaking hubs seeing steep declines. Asian and European stocks followed US shares lower following the worst market rout since 2020 as investors fretted about the durability of the AI buildout under a Democrat-controlled Congress. Chipmaking hubs Taiwan and South Korea saw steep declines, the former suffering record losses and the latter halting trading after an 8% wipeout. Markets fear curbs to AI development, reportedly leading some investors to question whether frontier lab Anthropic will achieve its $1.5 trillion IPO valuation target or have to delay its debut. Still, US futures signaled a bounceback while others remained undaunted: “ It’s ugly right now, ” an asset manager said. “But we do think we will see a bounce back soon.”
Investors fretted about the durability of the AI buildout under a Democrat-controlled Congress, with chipmaking hubs seeing steep declines. Asian and European stocks followed US shares lower following the worst market rout since 2020 as investors fretted about the durability of the AI buildout under a Democrat-controlled Congress. Chipmaking hubs Taiwan and South Korea saw steep declines, the former suffering record losses and the latter halting trading after an 8% wipeout. Markets fear curbs to AI development, reportedly leading some investors to question whether frontier lab Anthropic will achieve its $1.5 trillion IPO valuation target or have to delay its debut.
Still, US futures signaled a bounceback while others remained undaunted: “ It’s ugly right now, ” an asset manager said. “But we do think we will see a bounce back soon.”