Stock market today: World shares retreat amid AI-gain sales

World shares experienced significant retreats, with Japan and South Korea leading the declines as traders cashed in on recent gains in AI-related stock rallies.
Germany’s DAX, the CAC 40 in Paris, and Britain’s FTSE 100 all saw declines, while the S&P 500 futures and Dow Jones Industrial Average futures were either mixed or slightly up.
In Asia, Tokyo’s Nikkei 225 and South Korea’s Kospi indices plunged over 4 and 5 percent respectively, although they recovered some losses later in the day. Hong Kong’s Hang Seng and China’s Shanghai Composite also recorded losses.
The gains in Japan and South Korea were particularly centered around companies involved in AI, including Samsung Electronics and SK Hynix, with significant losses seen on Friday despite recent highs.
U.S. tech stock fluctuations persisted, with Micron Technology leading the gains after reporting better-than-expected earnings, while Apple shares dropped significantly after a price hike.
Despite the volatility in tech shares, non-tech sectors have shown relative stability, suggesting they might buffer against potential AI-related market downturns.
Market movements were affected by external factors such as fluctuations in oil prices, with Brent crude oil prices dropping and easing some inflationary pressures in the U.S.