Key facts
- S&P 500 and Nasdaq Composite notched weekly losses.
- CoreWeave shares shed 12% and lost about 25% this week.
- Indonesian equities suffered their biggest drop since 1998.
Global stocks experienced a modest decline on Friday, stabilizing after a significant tech-led selloff, while the dollar moved towards its first weekly loss in four weeks. Markets have been unsettled by concerns over rising interest rates and the debt-financed AI boom, leading to a selloff in technology and chip stocks. Traders increased bets on further US rate hikes after stronger-than-expected inflation data was released on Wednesday. On Wall Street, the S&P 500 and Nasdaq Composite notched weekly losses, while the Dow Jones Industrial Average fell 0.34%. Technology and communication services drove losses, while utilities and energy stocks gained. CoreWeave's shares shed 12% and lost about 25% this week amid increasing investor scrutiny of the financing for the massive AI infrastructure buildout. European stocks gained, with the STOXX 600 adding 0.72% and the FTSE 100 rising 0.38%. Asian stocks mostly rose, and bond markets steadied. Indonesian equities suffered their biggest drop since 1998 after index provider MSCI said the country's market no longer merited emerging-market status. The dollar index fell 0.26%, and the euro rose 0.16% to $1.1238. Brent crude futures rose 3.72% to settle at $109.86 a barrel amid concerns over Middle East supplies.