Tech stocks saw a sea of red on fears a Democrat-led US Congress will put the brakes on artificial intelligence projects. (EPA Images pic)PETALING JAYA: Investors dumped technology stocks on Bursa Malaysia today on fears the Democrats' resounding win in the US midterm elections would increase regulatory scrutiny of artificial intelligence (AI) and slow the data centre build-out.
Tech stocks on regional markets also dropped sharply in tandem with the bloodbath in US markets overnight, leading to their worst performance in 18 months.
The Nasdaq fell 5.5% or 1,421 points, wiping out about US$2.5 trillion for a record daily loss in market capitalisation for the tech-heavy index, while the Dow Jones fell 3.4% or 1,833 points.
