Europe set to open lower as Democratic sweep fuels AI regulation fears

European equity futures pointed to a weaker start on Wednesday after Democrats won control of both chambers of the US Congress, prompting concern about tougher rules for artificial intelligence. Business Recorder reported that futures tied to the STOXX 600 were down about 0.2% at 0639 GMT, after recovering part of a 1.4% decline during Asian trading.

Contracts linked to Germany’s DAX slipped about 0.2%, while the UK’s FTSE 100 futures fell 0.4%. Investors are concerned that stronger oversight of data-centre construction could restrain AI-related spending, an important source of recent gains for technology shares; Siemens Energy and Schneider Electric are also in focus. Novo Nordisk drew attention after reporting third-quarter adjusted operating profit above expectations and lifting its annual sales and profit outlook, while drug-price regulation remains a concern for healthcare investors.