Concerns over AI grow as global markets trade mixed

Global shares traded mixed on Friday. A drop in Alphabet’s shares weighed on U.S. markets as well. Against this backdrop, concerns about the future of artificial intelligence have grown.

European and U.S. markets

France’s CAC 40 rose 0.2% in early trading to 7,988.84. Germany’s DAX fell 0.1% to 26,008.99. Britain’s FTSE 100 gained about 0.4% to 10,759.33.

U.S. markets traded mixed: the Dow Jones Industrial Average rose 0.2% to 52,613.00, while the S&P 500 fell 0.8% to 7,689.00.

Asian markets

Japan’s Nikkei 225 fell 2.1% to 63,290.11. At the end of its two-day meeting, the Bank of Japan kept its benchmark interest rate unchanged at 1.25%. The decision was widely expected, as the central bank raised interest rates last month.

The U.S. is pressing Japan to raise interest rates over concerns about the weakening yen. In currency trading, the U.S. dollar fell to 157.28 yen from 157.65 yen. The euro rose to $1.1196 from $1.1181.

Australia’s S&P/ASX 200 gained 0.2% to 8,908.10. South Korea’s Kospi fell 3.5% to 5,730.74, with shares of SK Hynix and Samsung Electronics declining.

Hong Kong’s Hang Seng rose 1.5% to 23,294.42, while the Shanghai Composite fell 1.4% to 3,599.02.

AI-related stocks and oil

AI-related stocks were volatile. Shares of chipmakers and other companies rose on enthusiasm for the technology, but later retreated amid concerns over issues such as supply constraints.

In energy trading, U.S. benchmark crude rose 1.53% to $103.56 a barrel. Brent crude, the international standard, rose 1.65% to $116.77 a barrel.