FTSE 100 Live: Stocks to sink as tech rout deepens; oil below $100

Welcome back to City AM‘s FTSE 100 liveblog. It s Friday morning and London s blue-chip index is shaping up for another big loss after the tech rout deepened on global markets overnight. South Korea’s Kospi index tumbled more than five per cent and saw a halt in trading on the exchange, while Japan’s Nikkei 225 index fell around six per cent. Taiwan’s benchmark Taiex index also dropped just over six per cent. It follows the Nasdaq dropping five per cent led by major sell-offs in AI-related stocks and chipmakers. Meanwhile, oil prices were trading below $100 per barrel, on track to post a weekly loss of more than 11 per cent, driven by optimism over a potentially quicker resolution to the Middle East conflict following a Democratic sweep in the US midterm elections. Stick with us for all the latest economic and business news and updates. Here’s a few of our top headlines this morning: New Mandelson files to be released by Christmas The blood is in the street