{"id":555445,"date":"2025-11-07T16:43:21","date_gmt":"2025-11-07T16:43:21","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/555445\/"},"modified":"2025-11-07T16:43:21","modified_gmt":"2025-11-07T16:43:21","slug":"ftse-100-and-us-stocks-on-course-for-worst-week-in-months-as-tech-slumps","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/555445\/","title":{"rendered":"FTSE 100 and US stocks on course for worst week in months as tech slumps"},"content":{"rendered":"\n

The FTSE 100 (^FTSE<\/a>), European stocks and US indices were lower by Friday afternoon, on course for their worst week in months following a busy week of earnings reports and market updates.<\/p>\n

Stocks are on track to close a bumpy week in the red, dragged down<\/a> by persistent worries about an AI bubble as Big Tech valuations run high.<\/p>\n

The S&P 500 and the Dow are headed for solid weekly losses. And after sharp slumps for “Magnificent Seven” stalwarts such as Nvidia (NVDA<\/a>), the Nasdaq Composite is heading for a 2.8% loss for the week \u2014 its deepest<\/a> since April and Trump’s tariff “Liberation Day”.<\/p>\n

The VIX index, which measures market volatility, spiked \u2014 as did gold (GC=F<\/a>). Investors tend to turn to precious metals as safe havens in times of uncertainty.<\/p>\n

Elon Musk’s Tesla (TSLA<\/a>) captured headlines as markets opened, after a new pay deal that could be worth up to $1tn was signed off by the company’s shareholders.<\/p>\n

The deal was approved by 75% of voters at the EV maker’s AGM late on Thursday.<\/p>\n

It is conditional on a dramatic increase in Tesla’s (TSLA<\/a>) market value over the next decade. If certain targets are met, Musk will be rewarded with hundreds of millions of dollars in new shares.<\/p>\n

Read more: <\/strong>Tesla shareholders approve Musk’s $1tn pay package<\/strong><\/a><\/p>\n

Musk had previously said he was uncomfortable leading Tesla (TSLA<\/a>) without at least a 20% share of voting power, which the new package provides.<\/p>\n

“I’d like to give a heartfelt thanks to everyone who supported the shareholder votes,” Musk said at the meeting. “I super appreciate it.”<\/p>\n

Tesla’s (TSLA<\/a>) stock price was 3.5% lower in early trade.<\/p>\n

Prior to approval of the latest plan, Musk held a 13% stake in Tesla (TSLA<\/a>) after various share sales over the past couple of years, but he hasn’t been “paid” in years, he said.<\/p>\n

His 2018 pay package is embroiled in a lawsuit in Delaware, where shareholders alleged they didn’t have enough information<\/a> to properly vet the compensation awarded by the board, and a trial judge agreed. The Delaware Supreme Court is weighing the merits of Tesla’s (TSLA<\/a>) appeal.<\/p>\n