Global Markets Plunge as AI Profitability Doubts Spread

Global stock markets plunged Friday amid an "AI panic" triggered by doubts about artificial intelligence profitability and the Democratic victory in US midterm elections, with European indices also falling. US tech stocks suffered their worst losses since April 2025, erasing about $2.5 trillion in market value. Asian markets followed, with Tokyo's Nikkei falling 5.96% and Seoul's Kospi dropping 6.02%. European exchanges declined 1-1.5%, while Bucharest's BET index fell 0.93%. Investors worry that newly elected Democrats who campaigned against data center construction, plus disappointing earnings from major tech firms, signal slowing AI investment. Analysts note markets are transitioning from infrastructure building to AI monetization, with volatility expected to persist into January.