World Shares Mixed on AI Selloff       02/24 04:39

   World shares were mixed Tuesday after U.S. stocks slumped on heavy selling 
of shares in companies that could be losers in the artificial-intelligence boom.

   BANGKOK (AP) -- World shares were mixed Tuesday after U.S. stocks slumped on 
heavy selling of shares in companies that could be losers in the 
artificial-intelligence boom.

   A report by Citrini Research, a New York-based financial services company, 
that outlined a future scenario in which AI's dominance caused the 
"human-centric consumer economy," to wither away with dire consequences for 
employment, was the latest hit to confidence for companies that might be 
displaced by fast expanding use of the technology.

   "Policy response has always lagged economic reality, but lack of a 
comprehensive plan is now threatening to accelerate a deflationary spiral," the 
report says.

   Still, Tuesday brought gains for computer-chip makers and other companies 
that profit from development of AI.

   In early European trading, Germany's DAX edged 0.2% lower to 24,952.11 and 
in Paris the CAC 40 was down less than 0.1% at 8,491.94. Britain's FTSE 100 
also lost less than 0.1%, to 10,673.99.

   The futures for the S&P 500 and Dow Jones Industrial Average were up less 
than 0.1%.

   In Asian trading, Tokyo's Nikkei 225 index surged 0.9% to 57,321.09. Chip 
testing equipment maker Advantest rose 4.5%, while machinery maker Disco Corp. 
added 2.1%.

   Markets in mainland China advanced as they reopened following a weeklong 
holiday, but Hong Kong's Hang Seng fell as traders locked in profits from 
recent gains, slipping 1.8% to 26,590.32.

   The Shanghai Composite index rose 0.9% to 4,117.41.

   In South Korea, the Kospi picked up 2.1% to 5,969.64, setting fresh records 
on gains for memory chipmaker Samsung Electronics, which jumped 3.6%. SK Hynix, 
another chipmaker, closed 5.7% higher.

   In Australia, the S&P/ASX 200 edged less than 0.1% lower, ending at 
9,022.30, while Taiwan's Taiex gained 2.8%.

   India's Sensex fell 1.3%.

   Tuesday will bring President Donald Trump's State of the Union address.

   On Monday, U.S. stocks slumped after Trump ramped up his newest tariffs.

   The S&P 500 fell 1% to 6,837.75 after the president said he would place 
temporary 15% tariffs on other countries following a Supreme Court ruling that 
struck down his sweeping "reciprocal" taxes on imports from around the world.

   The Dow Jones Industrial Average dropped 1.7% to 48,804.06. The Nasdaq 
composite sank 1.1% to 22,627.27.

   Trump's quick shift toward more aggressive tariffs shows how much 
uncertainty still hangs over the global economy, even after the Supreme Court 
said the president lacked the legal authority to institute his sweeping 
"reciprocal" tariffs.

   Investors may be sensing it will take a long time, as well as more court 
battles, before more clarity comes about how global trade will look.

   On Wall Street, big losses hit companies under suspicion of getting undercut 
by AI-powered rivals.

   CrowdStrike fell 9.8% to widen its loss for the young year so far to 25.3%. 
A new tool from Anthropic that scans codebases for security vulnerabilities and 
suggests targeted software patches for human review has been hitting stocks 
across the cybersecurity industry.

   AppLovin sank 9.1% and took its loss for the year to date to 43.5%. It's 
among the software companies hurt by worries that AI competition will steal 
customers and fundamentally reset their industries.

   A profit report from Nvidia is due on Wednesday. Worries are rising that 
companies like Alphabet and Amazon may be spending so much on Nvidia's chips 
that they'll never be able to recoup their investments through higher 
productivity and future profits.

   In other dealings early Tuesday, U.S. benchmark crude oil gained 31 cents to 
$66.62 per barrel. Brent crude, the international standard, was up 30 cents at 
$71.41 per barrel.

   Crude prices have been gaining on worries that President Donald Trump might 
take military action against Iran.

   The U.S. dollar rose to 155.86 Japanese yen from 154.66 yen. The euro fell 
to $1.1783 from $1.1786.

   The price of bitcoin fell 4.3% to $63,180.