Asian markets tumbled on Friday following a Wall Street tech rout triggered by Democrats' US midterm victory. Japan's Nikkei 225 fell 6%, its worst drop since Trump's 2025 trade war, while South Korea's Kospi, dominated by chipmakers, also dropped 6%. The sell-off followed Nasdaq 100's 6.4% decline and S&P 500's 4.4% drop.
Investors fled tech shares over fears Democrats will slow AI data centre expansion, a key political issue. BNP Paribas' Prashant Bhayani noted many investors are exiting tech risk budgets.
Source: Financial Times Companies · Summarized by HeadlinesBriefing