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Global stocks plunge amid AI slowdown fears after Democrats’ midterm triumph

Sell-off on Wall Street followed by sharp fall in Asian and European markets, with FTSE down 1.5%Business live – latest updatesEuropean stock markets have fallen sharply as a rout in US tech stocks spread across the Atlantic, after the Democrats’ midterms victory sparked fears of a slowdown in the AI industry.A sell-off on Wall Street

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Global stocks tumble as AI panic grips markets after Democrats’ midterm success – business live

Rolling coverage of the latest economic and financial news, as Asia-Pacific markets slide after Wall Street routDonald Trump isn’t really correct to say that the stock market “suffered one of the worst days in history”.Yesterday’s 3.44% tumble on the Dow Jones industrial average (DJIA) certainly doesn’t compare with Black Monday (October 19 1987), when the

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AI cloud computing companies face ‘guppy-level death’, Elon Musk warns, as funding dries up – business live

Rolling coverage of the latest economic and financial newsMusk also claimed on X overnight that some partly-built data centres simply won’t be completed.As he put it:I think we’re going to see a lot of stranded compute in partially complete data centersAs of late Sunday in New York, those conversations remained ongoing and the deal hadn’t

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Google Cloud outage: Revolut suffers service disruption as bank customers report problems – business live

Rolling coverage of the latest economic and financial newsThe pound has rallied after Britain’s unemployment rate fell unexpectedly this morning to 4.7%.Sterling has gained half a cent against the US dollar to $1.3352, as the City welcomes the news that employment rose in the last quarter.“This data has caught the market on the hop, with

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AI-linked stocks fall after call for development slowdown worries investors – business live

Rolling coverage of the latest economic and financial newsAI CEOs say they need to slow the pace of development. But will they?The Guardian view on controlling AI: humanity cannot outsource its survivalThe Financial Times are reporting that Anthropic has told its backers it will be profitable this quarter.This might allay investor concerns about the aggressive

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Alphabet to raise $80bn from share sales to fund AI spending splurge – business live

Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The economics of the AI boom are back in focus today, after Google’s parent company Alphabet said it plans to raise up to $80bn in equity to fund its vast AI

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Oil at three-week high as US-Iran peace talks stall; China blocks Meta’s takeover of AI agent Manus – business live

Rolling coverage of the latest economic and financial newsShares in athletic apparel and footwear company Adidas have jumped by almost 1.75% in early trading after three of its athletes shone at the London Marathon yesterday.Sabastian Sawe and Yomif Kejelcha both smashed the two-hour barrier in the men’s marathon race, and Tigist Assefa set a women-only

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From the AI bubble to Fed fears: the global economic outlook for 2026

Analysts and investors voice caution about tech valuations and Trump’s influence on the US central bankInvestors expect global stock markets to keep rising in 2026, despite fears that the AI bubble could burst, and anxiety about chaos engulfing the US central bank.Wall Street strategists broadly expect the S&P 500 share index of US-listed companies to

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Cloudflare outage hits major web services including X, LinkedIn and Zoom – business live

Cloudflare reports it is investigating issues with Cloudflare Dashboard and related APIsTechnical problems at internet infrastructure provider Cloudflare today have taken a host of websites offline this morning.Cloudflare said shortly after 9am UK time that it is “is investigating issues with Cloudflare Dashboard and related APIs [application programming interfaces – used when apps exchange data

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