Unicredit's expansion hampered by political pushback

US voters issued a rebuke of President Donald Trump, US stocks dropped on Tuesday as jitters over highly elevated valuations for many artificial intelligence companies intensified, and some investors are worried there’s an AI bubble in Asian stocks as well. Plus, UniCredit’s ambition to become a European banking powerhouse has hit a series of roadblocks. 

Mentioned in this podcast:

US election results live

Listen to the Swamp Notes podcast

US stocks slide as investors fret over high valuations for AI companies

Asian markets’ reliance on AI boom raises ‘bubble’ fears

What next for Andrea Orcel’s UniCredit?

Today’s FT News Briefing was produced by Marc Filippino, Sonja Hutson, Lulu Smyth and Victoria Craig. Our show was mixed by Kent Militzer. Additional help from Michael Lello. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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