AI bubble fears take hold of stock markets and bitcoin

Global stock markets are seeing sharp declines and bitcoin has lost this year's gains as worries intensify that the AI (artificial intelligence) boom has become a bubble fit to burst. Sharp stock market falls were seen across large parts of Asia and Europe following the retreat on Wall Street. In Europe, the FTSE 100 was down by just over 1% while Germany's DAX and the CAC in Paris were 1.2% and 1.3% lower in early afternoon dealing.