Democrats win US midterms, tech stocks drop $1 trillion globally

Democrats gained control of both the Senate and the House of Representatives in the recent US midterm elections, according to Al Jazeera English.

Following the Democratic victory, major technology companies across the US, Europe, and Asia saw their stock values decline by a combined $1 trillion, France 24 reported.

Investors expressed concerns about a potential slowdown in artificial intelligence development and the prospect of stricter regulations under the new Democratic-led Congress.

Some Democratic candidates had voiced opposition to data centers essential for powering AI technology, contributing to market uncertainty, France 24 added.

The election outcome and its impact on technology stocks highlight the intersection of political change and economic markets, with investors closely watching regulatory developments ahead.