Erbil:Baku Global stock markets experienced significant declines on November 5, with major indices in the United States, Europe, and the Asia-Pacific region facing downturns. In the United States, the Dow Jones index fell by 1,833.06 points, or 3.44%, to 51,523.06 points. The S&P 500 index saw a decrease of 334.89 points, or 4.36%, settling at 7,353.73 points, while the Nasdaq Composite index dropped by 1,421.51 points, or 5.52%, to 24,315.00 points. The NYSE Composite index also decreased by 2.96% to 23,955.97 points, alongside Canada's S&P/TSX Composite index, which fell by 2.03% to 35,605.27 points.
According to Azeri-Press news agency, the declines were significantly influenced by increased selling pressure in the technology and artificial intelligence sectors. Investors were concerned about potential regulatory restrictions on data center construction and artificial intelligence in the United States, especially following the midterm elections.
In Europe, stock market performance was mixed, with the Euro Stoxx 50 index declining by 0.55% to 6,231.54 points and the UK's FTSE 100 index falling by 0.43% to 10,782.66 points. Germany's DAX index saw a decrease of 0.43% to 26,325.01 points. However, France's CAC 40 index rose by 0.34% to 8,205.37 points, and Spain's IBEX 35 index increased by 0.59% to 19,486.00 points.
In the Asia-Pacific region, major indices also faced declines. Japan's Nikkei 225 index fell by 3,876.14 points, or 6.35%, to 57,201.76 points, while the TOPIX index dropped by 246.92 points, or 6.27%, to 3,693.47 points. Hong Kong's Hang Seng index declined by 1.06% to 24,533.33 points, and China's CSI 300 index decreased by 1.48% to 4,052.48 points. Australia's S&P/ASX 200 index fell by 0.83% to 8,990.10 points, while the broader regional MSCI AC Asia Pacific index declined by 0.10% to 255.46 points.
Analysts cited additional pressure on technology stocks due to doubts about the profitability of significant investments in artificial intelligence projects and the financial performance of certain semiconductor manufacturers. This selling pressure eventually spread to other sectors, contributing to the widespread declines observed across global stock markets.