THE TELEGRAPH: Global stocks fell sharply and Bitcoin plunged below $100,000 as fears mount that an artificial intelligence bubble is about to burst.
The price of the cryptocurrency dropped by as much as 6.7pc on Tuesday, briefly falling to $99,936 (£76,747) - the first time it has fallen below $100,000 since June.
It means Bitcoin has now officially entered a bear market, with the prices falling by more than 20pc since its last peak in October.
Global share prices also slumped as the bosses of Wall Street giants Goldman Sachs and Morgan Sachs predicted major stock market falls and the US investor depicted in the film “The Big Short” placed a $1bn bet against AI.
America’s benchmark S&P 500 index fell by 1.18pc while the tech-heavy Nasdaq Composite dropped by 1.84pc.
Share indexes in France, Germany and Japan also all sank by more than 1pc on Tuesday amid fears the AI-led market boom is running out of steam. » | Chris Price. Melissa Lawford US Economics Correspondent | Tuesday, November 4, 2025
