Tech shares slide again on AI debt fears, yet the FTSE 100 closes up 1.08%
Reuters reported that US chip stocks were set to lose about $2 trillion in market value after the latest sell-off, that Nasdaq futures fell 1% as the AI rout deepened on debt concerns, and that CoreWeave shares and bonds slid. The Guardian's business blog said the sell-off was intensifying as markets awaited UK growth figures, and City AM's morning blog had expected London shares to slip. Market data shows the FTSE 100 closed 1.08% higher at 10,840.35 on Thursday. We could not confirm a Thursday close for sterling from two sources, so the pound-dollar rate is not shown. Reuters also reported a Nasdaq network disruption that affected US data feeds.
Global tech shares have driven markets, and pension funds and investors in Britain hold them. London's index is weighted towards oil, banks and miners, which is why it can rise when tech falls.
If your pension or ISA holds global tracker funds, expect a bumpy week. Short-term moves are not a reason to change a long-term plan.
The FTSE's gain is the number we can stand behind. Wall Street's Thursday session had not closed when we wrote this, so we give no US figure. Watch whether the AI debt worries spread to bonds and banks.
DailyDrop U.K. edition No. 12 · Morning · FRI., OCT. 16, 2026