AI stock sell-off drags global markets down; London hits record high

Global stock markets faced a downturn as investors continued to reduce their holdings in artificial intelligence (AI) related companies. This trend led to a significant sell-off, with South Korea's stock market experiencing one of its most severe declines on record.

The broader market sentiment was negative, reflecting a cautious approach from investors towards AI-driven equities. However, the London Stock Exchange offered a contrasting performance. The FTSE 100 index managed to climb, reaching a new intraday high during trading.

This upward movement in London was primarily fueled by a surge in oil prices, which bolstered energy stocks. Additionally, positive corporate earnings reports provided further support for the market, helping to offset the global downturn.

Despite the overall decline in major markets like South Korea, the resilience shown by London's FTSE 100 highlights the varied economic factors influencing different regions. The index closed higher, demonstrating strength driven by specific sector performance and investor confidence in certain areas.