Shares skid in Asia in sell-off of AI-related shares as Brent oil trades near $100 per barrel - AP News

What the report says

The Associated Press reported that U.S. stocks ended mixed Friday, while major indexes still finished the week lower as investors weighed oil-market volatility, escalating fighting in the Middle East, new U.S. tariffs and inflation concerns. The S&P 500 was nearly flat, gaining less than 0.1% to 7,411.98, while the Dow Jones Industrial Average rose 0.5% to 51,947.25. The Nasdaq Composite fell 0.6% to 24,975.82, pressured by losses in large technology shares.

AP said Brent crude, the international oil benchmark, fell 3.9% to $96.78 after climbing above $100 a barrel Thursday, its highest level since May. The report said heavier fighting in the Middle East has raised fears of disruptions to global oil and gas flows, including concern about the Strait of Hormuz. Asian markets closed lower, including a 5.7% drop in South Korea’s Kospi, while European markets advanced.

Technology and AI-linked stocks remained a focus. Micron Technology dropped 7% and Broadcom lost 2.7%, helping drag the Nasdaq lower. AP noted that investors are increasingly scrutinizing whether large spending on artificial intelligence by major companies can translate into profits that justify elevated valuations.

The report also highlighted macroeconomic pressures. Fresh Trump administration tariffs on imports could add costs for companies and consumers, while higher energy prices risk feeding inflation. AP said traders were watching the Federal Reserve’s meeting the following week, with market expectations shifting toward the possibility of at least one rate increase by year-end.