The Dow Jones Index dropped 246 points or 0.48 percent on Friday to close at 51277 points. Losses were led by Salesforce (-3.94%), Nike (-2.40%) and Cisco Systems (-1.95%). Offsetting the fall, top gainers were Nvidia (2.81%), Honeywell International (2.05%) and J&J (1.40%).

The Dow Jones Index Closes 0.48% Lower

The S&P 500 rose more than 0.5% and the Nasdaq gained over 1.5% on Friday, while the Dow was near flat. The moves followed a sharp sell-off in the previous session, the worst one-day losses since April 2025, that pushed the Nasdaq into correction territory. Concerns that Democratic wins in the midterms could lead to tighter AI-industry regulation and lower sector investment drove investors out of tech and AI-related stocks, triggering a broader risk-off mood. However, a rebound in chipmakers propped up the market on Friday as dip buyers emerged, leading technology stocks to a sharp recovery. Nvidia gained over 3%, Micron jumped 5%, AMD soared nearly 10%, Tesla rose over 4.5%, and Lam Research surged 8%. Among hyperscalers, Alphabet gained more than 1% and Meta rose over 2%. On the data front, nonfarm payrolls topped estimates and the unemployment rate edged lower. For the week, the S&P 500 is down nearly 3%, the Dow over 1%, and the Nasdaq around 5%.

US Stock Indices Gain as Tech Sector Recovers

The Ibovespa rose about 1.5% to hover near 168,500 on Friday after President Lula reassured markets on fiscal adjustment and as spillover pressure from the previous session’s tech-driven US rout eased with a Wall Street rebound. Lula reiterated that his government is committed to fiscal responsibility while also considering social responsibility, amid pressure to announce adjustment measures and a drop in Brazilian assets after his late-October reelection. The index was further supported by a JPMorgan report noting that Q3 results reinforced the resilience of emerging-market companies despite the recent AI-stock correction and global macroeconomic uncertainties. JPMorgan said earnings season continues to support the outlook for emerging-market equities and maintained above-average exposure to countries such as Brazil. Gains were broad-based. Sabesp jumped nearly 7% after a 9% annual rise in Q3 revenue, Bradesco rose 3%, BB nearly 4%, and Vale near 2%.

Ibovespa Rises on Fiscal Reassurance and US Stocks Rebound

The S&P/TSX Composite Index rose over 0.5% to hover near 36,000 on Friday, recovering from earlier losses with support from mining shares. Democrats regained control of both chambers of Congress in the US, raising hopes of easing trade tensions, as a Democratic majority could constrain some of President Trump’s trade policy decisions. Meanwhile, Canada’s trade surplus widened to C$5.35 billion in September, as higher energy and gold exports to the US appeared to offset tariff impacts. Agnico Eagle and Franco-Nevada rose about 1%, while WPM added nearly 2% after reporting record nine-month results on Thursday, with Q3 revenue soaring 62%. Broader sectors were mixed as investors assessed weaker-than-expected jobs data. Canadian employment fell by 4,700 in October, improving from September’s 68,300 decline but missing forecasts of a 13,600 increase. On the week, the index is set to gain over 1%.

TSX Recovers on Mining Gains

The FTSE MIB Index fell 479 points or 0.95 percent on Friday to close at 50027 points. Leading the losses are Nexi (-4.50%), Banco BPM SPA (-3.15%) and Bper Banca (-2.68%). Top gainers were Tenaris (2.97%), Buzzi Unicem (1.90%) and Amplifon (1.32%).

The FTSE MIB Index Closes 0.95% Lower

The DAX Index dropped 547 points or 2.08 percent on Friday to close at 25778 points. Losses were led by Deutsche Post (-4.77%), Hannover Rueck (-4.50%) and Munich RE (-3.94%).

The DAX Index Closes 2.08% Lower

The CAC 40 Index decreased 71 points or 0.87 percent on Friday to close at 8134 points. The decline was led by TP (-15.05%), Capgemini (-3.10%) and LVMH (-2.60%). On the upside, the strongest performers were STMicroelectronics (1.69%), Legrand (1.55%) and Essilor (1.28%).

The CAC 40 Index Closes 0.87% Lower

The FTSE 100 Index fell 113 points or 1.05 percent on Friday to close at 10670 points. Leading the losses are BT (-5.97%), Metlen Energy & Metals (-4.84%) and Airtel Africa (-3.80%).

The FTSE 100 Index Closes 1.05% Lower

The CAC 40 fell about 1% to hover near 8,100 on Friday amid civil unrest as the government struggles to push a budget through parliament. National protest turnout hit new highs on Thursday. Investors have been selling French bonds in recent weeks, partly on deficit concerns and doubts over whether a minority government can push spending cuts through parliament. The spread between French and German 10-year government bond yields rose to levels not seen since the 2011 euro-area debt crisis. The government deficit is set to widen to 5.4% of economic output this year, while rising borrowing costs add pressure. France’s trade deficit widened to €7.3 billion in September, above expectations of a €5.8 billion shortfall. It was the second-largest gap since October 2024. Luxury stocks posted losses, with LVMH down nearly 3%, Hermes over 2% and Kering more than 2.5%. Industrials were also mostly lower. Elsewhere, TotalEnergies shed nearly 2% amid growing hopes of a US-Iran peace deal.

CAC 40 Slips Amid Fiscal Concerns and Civil Unrest

The S&P/TSX Composite Index hovered near 35,500 in a volatile session on Friday after weaker-than-expected jobs data. Canadian employment fell by 4,700 in October, improving from September’s 68,300 decline but missing forecasts of a 13,600 increase. Private-sector employment dropped by 53,000 (-0.4%), its first decline since February. The unemployment rate edged up to 6.7%, a six-month high. Losses were broad-based: major banks fell, with RBC down nearly 1% and BMO about 0.5%; retailers also declined, with ATD losing over 1%; and Enbridge shed 2%. On Thursday, the index suffered its steepest daily decline in five months, dragged down by sharp technology losses after a Wall Street rout. The sector rebounded on Friday, tracking US gains: Shopify rose over 2.5% and Celestica nearly 4% after slumping 12.7% in the prior session. Energy stocks gained despite slightly lower oil prices, while miners were mostly down amid lower gold prices.

TSX Wavers After Weak Jobs Data

The Ibovespa rose 1% to hover near 168,000 on Friday as spillover pressure from the previous session’s tech-driven US rout eased and Wall Street rebounded. The index was further supported by a JPMorgan report noting that Q3 results reinforced the resilience of emerging-market companies despite the recent correction in AI-related stocks and global macroeconomic uncertainties. JPMorgan said the earnings season continues to support the outlook for emerging-market equities and maintained above-average exposure to countries such as Brazil. Meanwhile, Democratic wins in the US could create an opportunity for Brazil in negotiations over US trade tariffs. Major banks posted gains, with Itaú, Bradesco and BB up more than 2% each. Utilities also advanced, with Sabesp jumping nearly 5% after reporting a 9% annual rise in Q3 revenue. Other notable gainers included Rede D’Or (+3%) and Embraer (+1%).

Brazil Stocks Rise Amid Wall Street Rebound

The S&P 500 increased 0.4% and the Nasdaq soared 1.2% on Friday while the Dow Jones fell around 465 points. The moves followed a sharp sell-off in the previous session, which marked the market's worst one-day losses since April 2025 and pushed the Nasdaq into correction territory. Concerns that a Democratic sweep of Congress could lead to tighter AI industry regulation and lower investment in the sector weighed on sentiment, prompting investors to rotate out of technology and AI-related stocks and triggering a broader risk-off mood. However, dip-buying emerged on Friday and the sell-off paused, particularly across major chipmakers. Technology was the top performing sector while consumer staples underperformed. Nvidia soared 5.9%, Broadcom rose 4.9%, Micron Technology surged 6.8% and AMD advanced 10.2%, while Tesla added 1.9%. Meanwhile, the jobs report pointed to a robust labour market. On the week, the S&P 500 is down nearly 3%, the Dow off 0.5% and the Nasdaq is lower by around 4.4%.

S&P and Nasdaq Rebound Led by Tech

The Dow Jones Index is losing 351 points. Losses were led by Walmart (-3.60%), Home Depot (-3.28%) and Sherwin-Williams (-3.07%). Offsetting the fall, top gainers were Nvidia (6.34%), Alphabet (2.62%) and Caterpillar (1.56%).

The Dow Jones Index Opens 0.68% Lower

European stocks declined sharply on Friday, with the Euro Stoxx 50 and the broader Stoxx 600 falling more than 1.5% as investors reduced exposure to riskier assets. Concerns that the US could impose tighter regulations on the AI industry following the Democrats’ decisive midterm election victory weighed on technology shares and triggered broader selling across sectors. However, technology stocks partially recovered later in the session, tracking a rebound in US markets as dip buyers emerged, with ASML Holding surging nearly 4%. Elsewhere, major companies remained under pressure, with Novartis, HSBC, Roche, Shell, AstraZeneca, SAP, Nestlé, L’Oréal and Siemens losing between 1.1% and 3.4%. Commodity markets also faced headwinds, as oil remained on course for steep weekly losses amid optimism over diplomatic efforts to de-escalate the Iran conflict and restore Middle Eastern energy flows. Gold also declined following stronger-than-expected US employment data, which supported the dollar.

European Stocks Selloff

Canadian stock futures edged lower on Friday after the TSX was swept up in an AI-driven selloff on Wall Street in the previous session. On Thursday, the S&P/TSX Composite Index suffered its steepest daily decline in five months, dragged down by sharp losses in technology stocks, particularly Shopify and Celestica. The rout prompted investors to reduce exposure to riskier assets such as equities and seek shelter in government bonds. Meanwhile, markets are looking ahead to Canada’s employment report, with the economy expected to have added 13,600 jobs in October while the unemployment rate remained at 6.5%. The data may offer clues on the BoC’s policy outlook. Meanwhile, falling gold prices weighed on mining stocks, while lower oil prices put pressure on energy shares.

TSX Futures Edge Lower Ahead of Jobs Data

S&P 500 futures were up 0.2% and Nasdaq 100 futures gained 1.5% on Friday, while Dow Jones futures fell around 500 points. The moves followed a sharp sell-off in the previous session, which marked the market's worst one-day losses since April 2025 and pushed the Nasdaq into correction territory. Concerns that a Democratic sweep of Congress could lead to tighter AI industry regulation and lower investment in the sector weighed on sentiment, prompting investors to rotate out of technology and AI-related stocks and triggering a broader risk-off mood. However, dip-buying emerged on Friday and the sell-off paused, particularly across major chipmakers. Nvidia gained 4.1%, Broadcom rose 4.6%, Micron Technology surged 8.9% and AMD advanced 7.6%, while Tesla added 1.2%. Meanwhile, investors were also awaiting the US jobs report for fresh insights into labour market conditions. On the week, the S&P 500 is down nearly 3%, the Dow off 0.5% and the Nasdaq is lower by around 4.4%.

S&P and Nasdaq Set to Rebound

India’s BSE Sensex gained ground to close about 2.2% firmer at 81,028 on Friday, its highest level since early March and extending its winning streak to seven sessions. Foreign investor inflows and lower oil prices amid hopes of a potential resolution to the Middle East conflict have been supporting market sentiment. Investors bought around 15,000 crore rupees ($1.6 billion) of Indian equities on Thursday, their biggest single-day net purchase in nearly six years, underpinned by the global rotation away from AI stocks and expectations of relief on the long-term capital gains (LTCG) tax front. Gains were widepread across sectors, particularly financials, banks, autos, consumer goods and metals. M&M led gains among stocks, climbing 6.2%, after the automaker’s second-quarter fiscal year 2027 earnings came in well above expectations. The index recorded a weekly gain of 8.8%, its strongest performance in six years.

Sensex Extends Rally, Posts Strong Weekly Gain

GB100 decreased to 10545.00 Index Points, the lowest since October 2026. Over the past 4 weeks, United Kingdom Stock Market Index (GB100) gained 0.85%, and in the last 12 months, it increased 8.93%.

Stocks in United Kingdom Hit 4-week Low

The SENSEX Index went up by 1483 points or 1.87 percent on Friday to close at 80793 points. The rise was led by ICICI Bank (4.33%), Mahindra & Mahindra (4.27%) and HDFC Bank (3.35%).

The SENSEX Index Closes 1.87% Higher

Frankfurt's DAX 40 fell more than 1% to below 25,600 on Friday, extending previous session's losses, as tech jitters concerns continued to weigh on global sentiment. The prospect of tighter US regulation of the AI sector, following the Democrats’ decisive election victory, unsettled investors, weighing on technology stocks and subsequently spreading to other sectors. On the data front, Germany’s industrial production rose 0.7% month-on-month in September 2026, beating expectations for no change but slowing from a downwardly revised 1.0% increase in August. Daimler Truck was the biggest laggard , dropping nearly 4%, followed by Deutche Post and Bayer.

DAX Slips for 2nd Day

Milan’s FTSE MIB fell over 1% to 49,900 on Friday, extending losses as a global equity selloff fueled by concerns over tighter AI regulation in the US weighed on risk sentiment. The decline was broad-based, with financial and insurance stocks among the biggest laggards. Banco BPM plunged 2.7%, while Generali and Unipol shed 2.3% and 2.5%, respectively. Saipem also dropped 3.1%, followed by Nexi, down 2.7%. Banking heavyweights Intesa Sanpaolo and UniCredit lost 1.4% and 0.9%, while Monte dei Paschi di Siena slipped 0.6% despite reporting third-quarter net profit of €543 million, beating analyst expectations. Meanwhile, investors continued to monitor Intesa's proposed €34 billion takeover of MPS, with reports that Italy's antitrust authority had broadly accepted the proposed measures to address competition concerns. On the upside, Buzzi gained 1.1%, while Technoprobe edged up 0.2%. Despite Friday's losses, the benchmark remained on track for a weekly gain.

Italian Stocks Extend Losses

The CAC 40 fell 1.2% to 8,108 on Friday, reversing gains from the previous session, as a technology-led sell-off on Wall Street spilled over into Asian and European markets. Market sentiment turned subdued amid growing concerns over tighter regulation of the AI industry and a potential slowdown in data center expansion following a sweeping Democratic victory in the US midterm elections. Domestically, France’s trade deficit widened to €7.3 billion in September 2026 from a revised €6.0 billion in August, exceeding expectations of a €5.8 billion shortfall. The deficit marked its largest since October 2024, as imports rose 4.0% month-on-month to €62.7 billion, outpacing a 2.0% increase in exports to €55.3 billion. On the corporate front, Teleperformance plunged 17.8% after cutting its 2026 sales growth outlook amid weakness in its trust and safety business. The majority of stocks also traded lower, including L’Oréal (-1.5%), LVMH (-1.8%), Safran (-2.0%), and Publicis (-2.4%).

French Stocks Fall as Tech-Led Selloff Spreads

The FTSE 100 Index is falling 166 points. Losses were driven by AstraZeneca (-2.99%), Airtel Africa (-2.97%) and Imperial Brands (-2.65%).

The FTSE 100 Index Opens 1.54% Lower

The DAX Index is dropping 400 points. Leading the losses are Deutsche Post (-3.68%), Daimler Truck Holding AG (-3.36%) and Bayer (-2.85%).

The DAX Index Opens 1.52% Lower

The STOXX 50 lost 1.4% and the STOXX 600 declined 1.3% on Friday, as the tech sell-off and broader equity rout that began in the US during the previous session spread across Asian markets and into Europe. Fears that the US could tighten regulations on the AI industry, following the Democrats’ decisive election victory, weighed heavily on technology stocks and the AI trade before spreading to other sectors, leaving markets broadly in negative territory. BASF (-2.1%), Allianz (-1.8%), AXA (-1.9%), Inditex (-1.7%) and Bayer (-2.8%) were among the notable decliners.

European Stocks Fall More Than 1%

The CAC 40 Index is losing 95 points. Losses were led by TP (-18.34%), Bouygues (-2.53%) and Sanofi (-2.25%).

The CAC 40 Index Opens 1.16% Lower

The FTSE 100 fell 1.5% on Friday, hitting a four-week low as the global equity selloff intensified following sharp losses in US and Asian markets, driven by deteriorating sentiment towards AI-related investments. Mining stocks led the declines, with Antofagasta and Glencore losing nearly 3%, while Rio Tinto dropped more than 2%. Oil majors Shell and BP also fell around 2% each. Among other heavyweight stocks, AstraZeneca declined 2.5%, British American Tobacco shed more than 2%, and Unilever and Rolls-Royce lost over 1%. On a more positive note, Rightmove upgraded its 2026 guidance for underlying earnings per share growth. Meanwhile, Lloyds’ latest house-price data showed UK property prices fell 0.6% month-on-month in October and 1.2% year-on-year, marking the steepest annual decline in three years. The FTSE 100 is now down around 1% for the week.

FTSE 100 Joins Global Selloff

The Shangai Composite Index fell 44 points or 1.19 percent on Friday to close at 3646 points. Leading the losses are Zijin Mining (-5.05%), China Molybdenum (-5.00%) and Yonyou Soft (-4.05%).

The Shangai Composite Index Closes 1.19% Lower

The Nikkei 225 Index plunged 5.96% to close at 57,435 on Friday, sinking to its lowest levels since April and pushing weekly losses beyond 9%. This represented its worst weekly performance since the Covid-driven market selloff in March 2020. Technology stocks spearheaded the decline after a sweeping Democratic victory in the US midterm elections sparked concerns about stricter AI industry regulations and a potential slowdown in data center expansion. Japanese AI-related stocks recorded significant weekly losses due to their substantial exposure to the global AI infrastructure buildout, with Kioxia Holdings falling 36.8%, Advantest dropping 19.6%, Taiyo Yuden declining 22%, Tokyo Electron losing 13.2%, and SoftBank Group sliding 20.8%. Meanwhile, data revealed that nominal wages in Japan rose at their fastest pace in nearly three decades, strengthening expectations of another Bank of Japan interest rate hike in December.

Nikkei Posts Biggest Weekly Drop Since March 2020

The TAIEX, Taiwan’s benchmark stock index, plunged 1,873 points, or 4.5%, to 39,702 on Friday, touching its lowest level since April 30 and tracking declines on Wall Street overnight due to a plunge in AI-related stocks amid worries about the implications of the Democrats' sweeping victory on Tuesday. Almost all subsectors traded in the red, led by electronic technology and producer manufacturing. The broader index extended losses for a seventh consecutive session, with TSMC, the world’s largest contract chipmaker and accounting for more than 40% of the market’s total value, slumping 4.7%. Other heavyweight tech stocks also fell, including MediaTek (-2.0%), Hon Hai Precision (-4.5%), and Delta Electronics (-6.6%). Rising oil prices also pressured sentiment as inflation and interest-rate-hike concerns grew amid renewed risks of a US-Iran conflict. For the week, the index plunged 12.2%, marking its fourth straight weekly loss amid a tech selloff.

TAIEX Ends at Over 6-Month Low, Posts 4th Weekly Loss

The Nikkei 225 Index dropped 3528 points or 5.78 percent on Friday to close at 57550 points. Losses were led by Ajinomoto (-12.50%), Yamaha (-12.27%) and Sumitomo Dainippon (-12.12%).

The Nikkei 225 Index Closes 5.78% Lower

European equity markets were expected to open sharply lower on Friday as a widening global stock market selloff intensified, driven by concerns over tighter regulation of the artificial intelligence industry and a possible slowdown in data center expansion following a decisive Democratic victory in the US midterm elections. The tech-heavy Nasdaq Composite has already entered correction territory, with losses spreading across all sectors on Wall Street. AI-related stocks in South Korea and Japan also suffered steep declines as investor concerns rippled across global markets. In Europe, investors will focus on the latest UK house price index, French trade figures and Eurozone retail sales data for further economic signals. On the corporate front, earnings reports are due from ENGIE, Daimler Truck, International Airlines Group, Amadeus IT and Mediobanca, among others. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were both down approximately 1%.

European Stocks Set for Negative Open

The ASX 200 fell 44 points, or 0.5%, to close at 9,021 on Friday, reversing the prior session’s rally as Dow futures dropped sharply following Thursday’s Wall Street sell-off. Concerns over surging AI spending and whether data center expansion justifies current valuations weighed on sentiment. Tech, logistics, and mining led losses, while financials and transport strengthened. Heavyweights BHP Group (-2.3%) and Rio Tinto (-2.0%) dipped as copper prices slid to their lowest since July, amid worries over potential shifts in U.S. policy following Democratic gains in the midterm elections. Still, early losses narrowed as some investors rotated into defensive stocks. Goodman Group fell 3.2% on fears that U.S. restrictions could curb data center construction. Macquarie Group (-3.7%) and Reece (-3.1%) also lost. In contrast, the four big banks rose 0.6%–2.7%, while Woolworths added 1.8%. For the week, the ASX 200 extended previous gains, up by 1.3%, on a surging trade surplus in September.

ASX 200 Rises 1.3% Weekly Despite Friday's Retreat

The NZX 50 fell 92 points, or 0.7%, to close at 13,999 on Friday, retreating from a record high touched a day earlier, tracking a fall on Wall Street overnight amid a plunge in AI-related chipmaker stocks, as traders assessed the implications of the Democrats' sweeping victory on Tuesday. The broader index fell after marking its best single-day trading session in nearly 19 months on Thursday. Rising oil prices also pressured sentiment as inflation and interest rate hike concerns increased amid renewed risks of US-Iran conflict. Caution also built ahead of the release of US jobs data later today, as well as Chinese CPI, PPI, and trade data, and US inflation data next week. Almost all sectors traded in the red, led by the consumer staples and financials sectors, with the worst performers including Sanford (-3.6%), F&C Investment (-2.8%), Infratil (-1.9%), A2 Milk (-1.7%), and Mainfreight (-1.1%). For the week, the index rose 1.5%, marking its second straight weekly gain.

NZX 50 Ends 0.7% Lower but Posts 2nd Weekly Gain

India’s BSE Sensex rose about 0.7% to 79,853 on Friday, extending its winning streak to seven sessions and hitting its highest level since early March, supported by strong foreign investor inflows and easing crude oil prices. Foreign investors bought around 15,000 crore rupees ($1.6 billion) of Indian equities on Thursday, their biggest single-day net purchase in nearly six years, taking inflows to about $4 billion over the past 10 sessions. Brent crude slipped below $100 a barrel, easing concerns over inflation and India’s import bill, while hopes that the Democrats’ sweep of the US midterm elections could accelerate an end to the US-Iran conflict further lifted sentiment. However, global tech weakness and AI valuation concerns remain risks, while SEBI’s proposed tax relief for foreign investors could boost overseas inflows. Notable gainers included ICICI Bank (1.4%), HDFC Bank (1.1%), M&M (4.3%), and Infosys (1.6%). For the week, the benchmark is on track to advance 7.1%.

Sensex Hits 8-Month High

The Straits Times Index (STI) shed 118 points, or 2.2%, to 5,179 on Friday around noon, after rising in the previous session, tracking a fall on Wall Street overnight due to plunges in AI-related stocks amid worries that Democrats could introduce stricter regulations on the AI industry. The broader index touched its lowest level since July 1, mainly weighed down by losses in the electronic technology, communication, technology services, and financials sectors. However, Q3 earnings reports from banking heavyweight OCBC failed to lift the financial sector, which fell 0.9%, despite the bank posting net profit above estimates. Among the biggest laggards were Yangzijiang Shipbuilding (-6.0%), Singapore Technologies Engineering (-5.4%), Keppel (-4.8%), UOB (-2.9%), DBS (-2.3%), and OCBC (-0.5%). For the week, the index is heading for a 3.7% drop, which would mark its second straight weekly loss.

STI Falls to Over 4-Month Low, Set for 2nd Weekly Drop

Indonesia’s IDX Composite plunged 91 points, or 1.8%, to 4,939 in Friday morning trade, reversing gains from the prior two sessions after a tech rout on Wall Street overnight amid concerns about the profitability of heavy AI investment after the U.S. midterms. Local markets are heading into a second straight weekly fall, down 2.4% so far, and hovering near a six-year low, reflecting fiscal concerns over higher oil prices and the Prabowo administration’s hefty spending commitments, continued foreign capital outflows, and rupiah volatility. All major sectors slid, led by basic materials, infrastructure, energy, and cyclicals. Japfa Comfeed dipped 6.9%, followed by Barito Pacific (-6.6%) and Darma Henwa (-6.1%). Still, losses were partly limited by stronger-than-expected Q3 GDP growth, reinforcing optimism that the 2026 growth target of around 5.4% remains within reach. Meanwhile, authorities enacted sanctions over alleged stock market violations after MSCI warned of a possible downgrade.

Indonesian Shares Set for Second weekly Decline

The TAIEX, Taiwan’s benchmark stock index, slumped 2,700 points, or 6.5%, to 38,874 in Friday morning trade, extending losses for a seventh consecutive session and touching its lowest level since April 23, tracking declines on Wall Street overnight due to a plunge in AI-related stocks amid worries about the implications of the Democrats' sweeping victory on Tuesday. All subsectors traded in the red, led by electronic technology and producer manufacturing, which plunged by 8.1% and 8.6%, respectively. Persistent concerns over massive spending on AI infrastructure continued to pressure sentiment, with TSMC, the world’s largest contract chipmaker, which accounts for more than 40% of the market’s total value, slumping 5.6%. Other heavyweight tech stocks also slumped, including MediaTek (-6.2%), Hon Hai Precision (-6.4%), and Delta Electronics (-9.7%). For the week, the index is heading for a 14.0% plunge, which would mark its fourth straight weekly loss amid a tech selloff.

TAIEX Trades at Over 4-Month Low, Heads for 4th Weekly Loss

The Hang Seng Index fell 0.7%, or 181 points, to 24,612 on Friday, retreating slightly after surging 3.7% in the previous session for its biggest one-day gain in 21 months. Sentiment weakened as a sharp selloff in US technology shares spilled over into Asian markets, amid growing concerns over tighter regulatory scrutiny of the AI industry and the sustainability of massive spending on data centers and semiconductor infrastructure. The Nasdaq plunged 5.5%, while the Philadelphia Semiconductor Index tumbled 12.2%, wiping out trillions of dollars in US equity market value. Profit-taking following Thursday's sharp rally further weighed on sentiment. Adding to concerns over China's AI supply chain, around 600,000 Nvidia H200 chips were reportedly being held in Hong Kong awaiting Beijing's approval for shipment to mainland China. Among notable laggards were Z.AI Co. (-11.8%), Tencent (-1.8%), MiniMax (-9.9%), SMIC (-4.5%), and Kingboard Laminates (-10.1%).

Hong Kong Stocks Slips on AI Sell-Off

The Shanghai Composite slipped 1.4% to 3,637 on Friday, while the Shenzhen Component slid 2% to 11,242, with both indexes snapping a two-session winning streak and tracking losses across Asian markets, weighed down by a significant selloff in the technology sector. While investors initially anticipated that a Democratic sweep of the US Congress would accelerate efforts to end the Iran war, those geopolitical expectations were overshadowed by growing concerns over potential regulatory headwinds for the AI and data center industries, which could cloud the funding outlook for data infrastructure. Eoptolink Technology and Zhongji Innolight cratered 12.5% and 12.3% respectively, while Cambricon Technologies dropped 5.8%, Hygon Information Technology lost 3.1%, and SMIC and NAURA Technology both declined 3.0%. Despite Friday’s sharp retreat, both indexes still managed to lock in overall gains for the week.

China Stocks Retreat as Tech Rout Intensifies

The benchmark KOSPI slumped 7.77% to around 4,966 on Friday, falling below the 5,000 milestone and hitting a nine-month low, as a sharp sell-off in technology shares followed an overnight rout on Wall Street. Investor concerns intensified after the Democrats’ sweeping victory in the US midterm elections raised fears that tighter regulations could slow AI infrastructure and data center investments. The tech-heavy Nasdaq plunged 5.52%, while the S&P 500 dropped 4.36%. South Korean chipmakers bore the brunt of the sell-off, with Samsung Electronics (-7.99%) and SK Hynix (-9.97%) recording losses. The sharp decline triggered a circuit breaker shortly after the opening bell, suspending KOSPI trading for 20 minutes from 9:03 am. Meanwhile, rising oil prices amid Strait of Hormuz disruptions added to concerns. Finance Minister Lee Hyoung-il pledged measures to curb volatility, while the trading halt marked the 10th circuit breaker activation this year.

South Korean Shares Sinks Below 5,000

Australian equities fell 69 points or 0.8% to 8,996 in early trade on Friday, reversing a strong rally in the previous session that lifted the market to a near two-month high. Profit-taking followed an overnight Wall Street sell-off as investors accelerated their retreat from technology stocks amid growing concerns over a potential slowdown in data-center investment. Local technology stocks came under pressure, while mining and materials shares also declined. Among individual stocks, Sandfire Resources plunged 6.4%, followed by Sims Ltd. (-6%), Goodman Group (-4%), and South32 (-3.4%). Heavyweights BHP Group and Rio Tinto also fell 3.5% and 3.2%, respectively. In contrast, the four major banks advanced between 1.3% and 3.1%. Despite the pullback, the ASX 200 remained on track for a second consecutive weekly advance, up around 1%, supported by a solid September trade surplus, recovering personal spending, and steady private credit growth.

Australian Shares Pull Back but Head for Second Weekly Gain

Japan’s Nikkei 225 Index plunged nearly 6% to around 57,500 on Friday, reaching its lowest level since April as it followed overnight losses on Wall Street, where the tech-heavy Nasdaq Composite entered correction territory amid mounting pressure on artificial intelligence stocks. The selloff intensified after a sweeping Democratic victory in the US midterm elections raised concerns over tighter AI industry regulations and a possible slowdown in data center expansion. AI-related stocks in Japan recorded significant declines, including Kioxia Holdings (-13.1%), Advantest (-14.7%), Ibiden Co (-16.3%), Tokyo Electron (-9.4%) and SoftBank Group (-6.8%). Meanwhile, data showed that nominal wages in Japan increased at their fastest pace in nearly 30 years, reinforcing expectations of another Bank of Japan interest rate hike in December. For the week, the Nikkei is poised to fall approximately 9%, marking its steepest weekly decline since March.

Nikkei Extends Losses as AI Selloff Intensifies

US stock futures continued to slide on Friday after major averages recorded their suffered their worst one-day drop since the tariff-driven market turmoil in April 2025, amid concerns that Democrats could impose tighter regulations on the artificial intelligence sector. Futures tied to the Dow, S&P 500 and Nasdaq 100 were all down at least 0.5%. During Thursday’s regular session, the tech-heavy Nasdaq Composite plunged 5.5%, while the Dow and S&P 500 fell 3.4% and 4.4%, respectively. The Nasdaq Composite also closed more than 10% below its latest peak, officially entering correction territory. All 11 S&P 500 sectors finished lower, with companies linked to AI infrastructure experiencing the steepest declines. Investors grew concerned that Democratic policies could slow data center expansion. Chipmakers and memory-related stocks were among the biggest losers, including Nvidia (-9.3%), AMD (-17.3%), Micron (-17.5%) and Sandisk (-22.3%).

US Futures Extend Declines After AI Rout

The NZX 50 dropped 162 points, or 1.2%, to 13,929 in Friday morning deals from a record high touched a day earlier, tracking a fall on Wall Street overnight amid a plunge in AI-related chipmaker stocks, as traders assessed the implications of the Democrats' sweeping victory on Tuesday. The broader index fell after marking its best single-day trading session in nearly 19 months on Thursday. Rising oil prices also pressured sentiment as inflation and interest rate hike concerns increased. Caution also built ahead of the release of US jobs data later today, as well as Chinese CPI, PPI, and trade data, and US inflation data next week. Almost all sectors traded in the red, led by the financials sector, with notable losers including Infratil (-3.0%), F&C Investment (-2.8%), A2 Milk (-1.9%), Auckland International Airport (-1.7%), Fisher & Paykel (-1.2%), and Freightways Group (-0.9%). For the week, the index is heading for a 1.0% rise, which would mark its second straight weekly gain.

NZX 50 Retreats from Record High, but Set for 2nd Weekly Gain

The Dow Jones Index decreased 1833 points or 3.44 percent on Thursday to close at 51523 points. The decline was led by Nvidia (-9.23%), Cisco Systems (-7.62%) and Goldman Sachs (-6.42%).

The Dow Jones Index Closes 3.44% Lower

The S&P/TSX Composite Index fell more than 2% to below 36,000 points as a selloff in US semiconductor and AI-related stocks spilled over into Canadian technology shares. The decline erased the previous session’s post-midterm election rally, as Democratic gains in the US midterm elections fuelled concerns about increased regulatory scrutiny of the rapid expansion of AI. Celestica plunged 14%, while Shopify tumbled more than 5.5%, tracking losses among US chipmakers and hyperscalers. Major banks also traded lower as rebounding oil prices renewed concerns about energy-driven inflation. RBC, BMO and CIBC fell around 2%, while Scotiabank and TD Bank lost more than 2.5%. On the earnings front, Canadian Natural edged higher after beating third-quarter profit estimates, supported by stronger crude prices and production. Meanwhile, Nutrien gained 1% despite missing earnings expectations, as Democratic gains raised hopes of renewed US-Canada trade talks.

TSX Falls on Global Technology Selloff

The Ibovespa fell 0.5% to below 168,000 points, erasing earlier gains as a sharp selloff on Wall Street weighed on global equity markets. Shares of companies linked to semiconductors and data centres came under pressure after Democratic gains in the US midterm elections raised concerns about increased regulatory scrutiny of the rapid expansion of AI. Meanwhile, investors remained focused on Brazil’s fiscal outlook, particularly the government’s commitment to controlling public spending and debt, which has risen significantly in recent years. The BCB kept the Selic rate unchanged at 13.75% at its November meeting, amid a challenging economic backdrop of weaker growth, higher inflation and increased uncertainty following President Lula’s reelection. Losses were broad-based, led by WEG (-4%) and Embraer (-5%), while Petrobras and Bradesco each fell 1%. In contrast, Vale gained nearly 1%, supported by higher iron ore prices.

Brazilian Stocks Decline Amid Unfavorable External Backdrop

The S&P 500 tumbled about 3.5%, the Nasdaq plunged more than 5%, and the Dow shed nearly 1,500 points on Thursday, wiping out the previous session’s gains amid a sharp post-election selloff in chipmakers. The sector was on track for its worst weekly performance since the April 2025 tariff rout. Democrats won control of both the Senate and the House of Representatives in the midterm elections and are expected to push for tighter regulations on computing hubs essential to AI development. Such measures could slow infrastructure expansion and delay rollouts that major companies are counting on to boost their bottom lines. Losses were broad-based, but chipmakers led the selloff. Nvidia and AMD both fell more than 7%, while Micron plunged over 12.5%. Tesla also tumbled more than 11%, while Applied Materials dropped over 11% and Lam Research sank more than 13%. Among hyperscalers, Microsoft fell over 2.5%, Meta shed more than 3.5%, and Oracle plunged 7%.

Wall Street Slides as Chipmakers Tumble

The FTSE MIB Index dropped 525 points or 1.03 percent on Thursday to close at 50506 points. Losses were led by STMicroelectronics (-9.44%), Technoprobe (-8.75%) and Fincantieri (-4.65%).

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