Global tech selloff hits European and Asian markets

European stock markets fell sharply on Friday, tracking a global tech selloff triggered by concerns that the Democratic election victory could lead to stricter artificial intelligence regulation. Milan's FTSE Mib index traded down 1%, with banking stocks particularly weak. Asian markets saw severe losses, with Seoul's Kospi plunging 8.5% and Tokyo's Nikkei dropping 5.1%, prompting a temporary trading halt in South Korea. Wall Street futures were mixed after the S&P 500 suffered its worst daily decline since April 2025. In Milan, Saipem fell 2.7% and Banco Bpm dropped 2.6%, while the Btp-Bund spread remained calm at 108 basis points. Oil prices rose slightly, with WTI at $91.71 per barrel.