Global technology stocks lose trillions in market value

A massive Wall Street rout has wiped out roughly N$41.22 trillion in market value from major technology firms across the US and Asia. This sell-off was triggered by investor concerns over a potential slowdown in artificial intelligence development following the Democratic Party’s victory in the US midterm elections. On Thursday, the tech-heavy Nasdaq suffered 5.5% plunge, while AI giant Nvidia saw its stock tumble by around 9%. In the Asian markets today, South Korea’s Kospi dropped nearly 9% in early trading, and Japan’s Nikkei 225 plunged 6%. 

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