FTSE 100 closes 1% lower after U.S. tech selloff

The FTSE 100 closed 1.0% lower on November 6, ending at 10,673.94 after a steep selloff in U.S. technology shares weighed on markets. The index fell 108.72 points from its previous close, although it recovered from an intraday low of 10,528.07.

The decline followed Thursday’s losses on Wall Street, where the Nasdaq Composite fell 5.5% and the S&P 500 dropped 4.4%. U.S. markets recovered some ground in early trading Friday: around the London close, the Nasdaq was up 1.8%, the S&P 500 1.0% and the Dow Jones Industrial Average 0.1%.

Market commentary linked the technology selloff to concerns that political opposition could slow data-centre construction and affect the pace of artificial-intelligence investment. Newly elected officials in the United States have opposed some data-centre projects, while proposals to limit the effect of facilities’ energy demand on consumer prices could draw bipartisan support, according to UBS. The reports did not establish that companies had changed their investment plans.

The FTSE 100’s closing decline was smaller than its losses at earlier points in the session. It traded as low as 10,528.07 and as high as 10,784.16, according to London Stock...