FTSE 100 index today: London falls 1% to 10,670 in global AI sell-off

London’s main share index, the FTSE 100, closed about 1% lower on Friday, 6 November, at roughly 10,670 points, after a much worse morning. At its low the index was down around 254 points, or 2.35%, near 10,528, before a partial recovery on Wall Street pulled it back.

It was the FTSE’s second fall in a row, after the index had been trading close to record levels earlier in the week, and “ftse 100 index” was the top Google search in the UK on Friday.

FTSE 100 today at a glance

• Close: about 10,670 to 10,673 (data feeds differ slightly)
• Change: down roughly 109 points, about 1%
• Thursday’s close: 10,782.66
• Day’s low: around 10,528 in the morning

Why did the FTSE fall?

The trigger was a global sell-off in technology and AI-linked shares that started in New York this week, when the S&P 500 and Nasdaq dropped sharply (our report here). Investors worry that AI companies have been priced for perfect growth, and the US midterm result added a new risk: with Democrats taking both houses of Congress, markets expect tougher rules on AI and big tech.

The FTSE has few pure tech companies, but it is full of global banks, miners and investment firms that move with world markets, so it rarely escapes when Wall Street wobbles.

Why it matters in Pakistan

Few Pakistanis own London shares directly, but the FTSE is a quick read on global investor mood. The same wave of selling hit Karachi too: the KSE-100 fell about 1,500 points on Friday after a four-day rally. A nervous world market can slow foreign money into Pakistani shares, and for families with relatives in the UK, a weaker market can mean smaller pension and savings pots.

This is market information, not investment advice.

Monday’s open in London, and whether New York steadies after the US jobs data, will show if this was a two-day wobble or the start of a deeper fall.