Why investors soured on the Democrats

US tech stocks plunged over worries that the blue wave could slow down the AI boom, and the FT’s Joe Miller explains what stance a Democratic Congress may take towards AI. Plus, the UK government is preparing to extend Palantir’s controversial £330mn health contract, Paraguay’s president Santiago Peña has resigned after the collapse of a big digital bank, and the Bank of England raised interest rates to try to tackle surging inflation.

Mentioned in this podcast:

Nasdaq plunges in chaotic trading as Democratic ‘blue wave’ upends AI bets

Trump’s tech cheerleaders brace for bipartisan backlash

‘The money didn’t work’: Big Tech’s $600mn midterm campaign falls flat

Paraguay’s pro-Trump president resigns over bank collapse

Bank of England raises interest rates to 4% in bid to tame inflation

UK planning to not trigger Palantir break clause but make it fight for NHS contract

Credit: Times Now

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The FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our video producers are Dennis Golin and Zachary Alfred. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Vanessa Brown and David da Silva. Our executive producers are Charles Bell and Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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