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Japan's Nikkei slumps more than 5% as market rout deepens on AI worries
TOKYO: Japan’s Nikkei share average fell more than 5% on Friday, as heavyweight technology stocks plunged over fears of tighter regulation and a potential slowdown in AI-related spending following the Democrats’ sweep in the US midterm elections. The selloff tracked sharp overnight declines on Wall Street, where the S&P 500 and Nasdaq Composite posted their steepest daily falls since April 2025. Friday’s drop extended a rout in Japanese chipmakers and AI-linked stocks that began on Wednesday as election results emerged. The tech-heavy Nikkei was down 5.3% at 57,858.61 as of the midday brea...
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