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Finance

Nasdaq sees worst day in 19 months as investors bet on AI slowdown after Democrats’ election triumph

Nearly $2tn shaved off Nasdaq value as worries of curbs to AI datacenters ripple across bourses The Nasdaq share index had its worst day in 19 months after slumping 5.5% on Thursday amid growing signs that the artificial intelligence industry will face tougher regulation because of the midterm election results. As Wall Street sustained widespread losses, the Nasdaq composite tumbled into “correction territory” – more than 10% below its recent record high – with more than $2tn shaved off its value by the end of trading Thursday. The tech-heavy index had its biggest one-day fall since Donald Tru

The Guardian
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Finance

Google, Meta and TikTok sue California to block law protecting children from addiction risk

Law bans social media platforms from providing minors features such as autoplay that lead to compulsive use Google, Meta and TikTok have sued California to block enforcement of ⁠a new state law intended ⁠to limit the risk ​of addicting children under 16 to social media platforms. The law, known as Assembly Bill 1709, prohibits such platforms from offering underage children “psychologically exploitative features” that could lead to compulsive use, such as providing ⁠personal recommendations and sending videos through autoplay features. It also requires the deletion of children’s accounts with t

The Guardian
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