World stocks fall tracking Wall Street’s drop

World stocks tracked Wall Street’s sharp drop in skittish trading, with major benchmarks erasing the previous day’s gains.

Worries persist about a bubble in artificial intelligence-related shares. Better-than-expected US jobs data has also raised the likelihood that the Federal Reserve will hold off on an interest rate cut in December, disappointing investors who have been counting on rate cuts to fuel more gains.

The future for the S&P 500 was up 0.2 per cent while that for the Dow Jones Industrial Average edged 0.3 per cent higher.

In early European trading, Germany’s DAX declined 0.9 per cent to 23,063.05, while Britain’s FTSE 100 dropped 0.5 per cent to 9,484.29. In Paris, the CAC 40 shed 0.6 per cent to 7,935.43. Other big recent winners also lost ground. Bitcoin dropped 4.5 per cent to $82,500, down from nearly $125,000 last month.