Tech stocks tank over AI panic

Investors dump tech shares over fears of slowdown in AI development following the sweeping Democrat victory in the US midterm elections. Markets in Asia suffer sharp losses. Japan’s Nikkei index and South Korea’s Kospi closed 6% down on Friday.

Also: the leader of a doomsday cult in Kenya is sentenced to 200 years in prison after being found guilty of murdering more than 190 people; Paraguay's president faces impeachment after a banking scandal puts the country in crisis; another wave of bomb threats disrupts passenger flights in Europe; Gavin Newsom spares 500 prisoners from the death sentence in California; and the Pope heads to Latin America three weeks after lung cancer surgery.

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Photo: Currency dealers talk in front of an electronic board displaying the Korea Composite Stock Price Index (KOSPI) in Seoul, South Korea. Credit: REUTERS/Kim Hong-Ji