Asian Shares Fall as AI Stock Declines Hit Global Markets; Oil Prices Jump

Asian shares fell Friday as AI stock declines hit global markets, with the S&P 500 posting its worst day since July. Oil prices rose to their highest since May, with Brent crude at $113.73 per barrel. Tokyo's Nikkei lost 1.7%, South Korea's Kospi fell 2.4%, and Shanghai slipped 1.3%, while Hong Kong edged up. Thursday saw the Nasdaq tumble 2.6% as AI-related stocks dropped on concerns about borrowing costs for data centers and inflated prices. Meta fell 7% despite strong revenue, Tesla declined 3.1%, and Nvidia dropped 4.4%, dragging the index. Higher oil prices from Iran war worries and U.S. bond yield declines added to market pressure.