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Japan's Nikkei drops 3% as Democratic gains in US midterms hit AI stocks
TOKYO: Japan’s Nikkei average slumped on Wednesday as AI-related stocks slid on concerns that Democratic gains in the US midterm elections could lead to stricter rules for dead-centre projects and slower AI infrastructure spending. The Nikkei was down 3.1% at 61,127.9, as of 0150 GMT, while the broader Topix fell 1.85% to 3.857.97. The outcome of the US elections could have broad implications for market-sensitive areas, including the AI dead-centre buildout, the US fiscal outlook, defence spending and regulation in areas such as healthcare, banking and cryptocurrencies. “Democrats are winning ...
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