
Fears over AI regulation after US vote send tech stocks tumbling
AI-generated summary
The Democrats' electoral victory in the United States has fueled fears of a crackdown on the regulation of artificial intelligence.
The Tokyo stock market ends the session sharply lower after the electoral victory of the Democrats in the United States fueled fears of a crackdown on the regulation of AI, causing technology stocks to collapse on Wall Street and dragging the benchmark index below 60,000 points for the first time in about five and a half months.
The Nikkei reference price list fell by 5.96% to 57,434.77, with a loss of 3,643 points. On the currency market, the yen strengthens against the dollar at 157.80, and against the euro at 176.70.

Strongly negative start for the Milan Stock Exchange and Asian markets, in the wake of Wall Street and fears related to the US elections. Tokyo lost almost 6% and Seoul 6% net.

Stock markets in the Asia-Pacific area recorded sharp declines, led by Seoul and Tokyo, influenced by the decline on Wall Street and fears related to the US elections and their effects on investments in AI.

The success of the Democrats in the US midterm elections puts the expansion of data centers in Texas, Georgia and Ohio at risk. Investors fear tighter regulation, impacting AI-related stocks.

Seven of the ten large programs declared of national strategic interest with the Asset decree concern data centers, for a total estimated value of 26.9 billion. Operators include Amazon Web Services, Microsoft, OpenAI, Equinix, Vantage and EdgeConneX. According to Terna, as of August 31, grid connection requests for new data centers exceeded 100 gigawatts, almost half in Lombardy.

Spot gold fell 0.97% to $4,048.3100 an ounce, while Comex gold for December delivery fell 1.36% to $4,057.60 an ounce.

The Tokyo stock market closes sharply lower: the Nikeki loses 5.96% to 57,434.77 points, falling below 60,000 for the first time in about five and a half months, after the electoral victory of the Democrats in the United States fueled fears of a tightening of AI regulation, dragging technology stocks to Wall Street. The yen strengthens against the dollar at 157.80 and against the euro at 176.70.