Global stock markets fell on Friday as Apple‘s decision to raise prices on several products sparked fresh concerns over inflationary pressures in the technology sector, while oil prices slid toward four-month lows amid signs of improving crude supplies from the Middle East.
European shares dropped nearly 1 percent, led by losses in technology stocks, while U.S. stock futures pointed to a weaker opening on Wall Street. Asian markets also came under pressure, with technology companies leading declines across the region.
Apple’s announcement that it would increase prices for some MacBook and iPad models after surging memory and storage chip costs rattled investors, despite the company’s shares stabilising in premarket trading following a 6 percent decline on Thursday.
Sentiment was further dampened by reports that OpenAI may delay its planned initial public offering until next year, adding to concerns over valuations in the technology sector after a strong rally earlier this year.
MSCI’s broad index of Asia-Pacific shares outside Japan fell around 3 percent, while South Korea’s benchmark KOSPI at one stage plunged as much as 9 percent, triggering a temporary trading halt under the market’s circuit breaker mechanism.
More Read
“There is a bit of concern in the market about the spenders, the hyperscalers, and what is going to happen to the return on invested capital from all this expenditure,” said Mark Ellis, chief investment officer at Nutshell Asset Management.
He said the surge in investment linked to artificial intelligence could fuel inflation in the short term but was likely to improve efficiency and reduce costs over the longer term.
Analysts also attributed the volatility in technology stocks to portfolio rebalancing ahead of the end of the month and quarter, following strong gains across the sector during the second quarter.
More Read
Oil prices extended losses, falling more than 3 percent as concerns over supply disruptions eased despite continued tensions around the Strait of Hormuz.
The decline came as more stranded oil tankers successfully exited the waterway and Saudi Aramco resumed crude loadings at its Ras Tanura export terminal after a suspension of nearly four months, increasing expectations of additional global supply.
In currency markets, the Japanese yen remained close to its weakest level against the dollar in four decades, trading around 161.6 per dollar despite weaker U.S. Treasury yields and softer expectations for a near-term Federal Reserve interest rate increase.
The dollar index slipped about 0.3 percent to 101.2 but remained close to its highest level since May 2025.
Recent U.S. data showing inflation broadly in line with expectations prompted investors to slightly reduce expectations of another Federal Reserve rate hike in September.
Separate figures indicated the U.S. economy expanded more strongly than previously estimated in the first quarter, although consumer spending slowed sharply, raising questions about the pace of growth in the months ahead.
U.S. government bond yields edged lower, with the benchmark two-year Treasury yield falling to about 4.09 percent, while the 10-year yield eased to around 4.38 percent.
Gold prices benefited from the softer dollar, rising about 0.5 percent to trade above US$4,040 an ounce.
