HONG KONG, Nov 6 — Asian tech firms suffered a bloodbath today as investors tracked a collapse on Wall Street fuelled by fears that Democrats will ramp up regulations of the AI industry following their blowout victory in this week’s US midterm elections.
Trading boards were a sea of red in early business, with Seoul and Tokyo taking the brunt of the selling as traders fled to the hills amid uncertainty about a sector that had pushed stock markets to record highs just five months ago.
While the historic “blue wave” in Tuesday’s vote had been initially welcomed on hopes it could put pressure on President Donald Trump to wind down his war against Iran, fears about the impact on the AI buildout soon came to the fore.
