UK stock market hits one-month low as AI bubble fears mount, and borrowing exceeds forecasts in October – business live

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Shares are falling faster than wickets in Perth at the start of trading in London, as fears of an AI bubble rip through markets again.

Following losses on Wall Street last night, the FTSE 100 share index has dropped by 104 points, or just over 1%, at the start of trading to 9423 points. That’s a one-month low.

Defence firm Babcock (-4.7%) is leading the followers, followed by technology investor Polar Capital, then precious metals producers Endeavour Mining (-4.1%) and Fresnillo (-4.5%).

This follows wild trading in the US yesterday, where stocks initially rallied but then fell back as investors digested forecast-beating results from Nvidia and a mixed US jobs report.