Global tech stocks wobble over AI regulation fears after midterms | First Thing
Summary
Global markets fell after a sharp sell-off in U.S. technology stocks, which the article links to concern that tougher AI regulation could slow the industry. The Nasdaq dropped 5.5% on Thursday, its steepest one-day fall in 19 months, and Asian markets also fell on Friday.Key Facts
- The Nasdaq fell 5.5% on Thursday, its largest daily drop in 19 months.
- The article says investor worries include slower data-center construction and uncertainty about returns on large AI investments.
- Asian stock markets fell on Friday after the U.S. technology sell-off.
- Google, Meta and TikTok sued California to block enforcement of Assembly Bill 1709, a law aimed at limiting children’s risk of social media addiction.
- The article says Israeli President Isaac Herzog will decide on Sunday whether Gadi Eisenkot or Benjamin Netanyahu should first try to form a government.
- A federal judge halted construction on President Donald Trump’s proposed triumphal arch for 14 days.
- Paraguay’s President Santiago Peña resigned on Thursday amid a political and banking crisis, according to the article.
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