Global shares tumbled Friday following a broad selloff on Wall Street of shares related to artificial intelligence as the prospect of more regulation in the wake of the US midterm elections compounds fears about high levels of debt and spending in the sector.

Tokyo’s benchmark Nikkei 225 slipped 6.0% to finish at 57,434.77, falling below 60,000 points for the first time in nearly half a year. Japanese technology shares were among the biggest losers, including SoftBank Group Corp. and Advantest Corp.

Australia’s S&P/ASX 200 lost 0.5% to 9,020.80. South Korea’s Kospi dropped 6.0% to 5,059.69, as shares in Samsung Electronics and SK Hynix plunged. Hong Kong’s Hang Seng fell 1.3% to 24,481.86, while the Shanghai Composite dipped 1.1% to 3,649.18.

Stock markets around the world have been feeling pressure from continued declines for companies that have benefited from the boom in the artificial-intelligence technology industry. Critics also say AI stock prices shot too high and were in a bubble amid concerns about high levels of borrowing and spending as companies race to build the massive computing capacity needed to train AI applications. What might come next remains uncertain, they say.

The Democrats’ win in the US midterm elections Tuesday also raises the prospect of more regulation, including at the state level where popular resistance to data center construction remains strong.