HONG KONG (AP) — Asia shares were trading lower Friday, tracking sharp Wall Street losses on a sell-off of technology-related stocks that investors fear could lose out from artificial intelligence disruptions.
U.S. futures edged lower. The future for the S&P 500 fell 0.2%, while that for the Dow Jones Industrial Average was also 0.2% lower.
Tokyo’s Nikkei 225 fell 1.2% to 56,941.97. SoftBank Group, which has a focus on AI, lost 8.9% even after the company reported a $1.6 billion quarterly profit Thursday building on its investments in OpenAI, among other gains.
South Korea’s Kospi was down 0.3% to 5,507.01 despite earlier gains. Samsung Electronics, the country's largest listed company, was up 1.5%.
Hong Kong’s Hang Seng fell 1.7% to 26,575.84. The Shanghai Composite index was down 1% to 4,091.65.
In Australia, the S&P/ASX 200 traded 1.4% lower at 8,917.60.
On Thursday, Wall Street saw sharp losses as AI worries dampened sentiment. The S&P 500 fell for its second-worst day since Thanksgiving, dropping 1.6%, or 108.71, to 6,832.76, but it's still near an all-time high that was set last month. The Dow Jones Industrial Average was down 1.3%, or 669.42, to 49,451.98. The Nasdaq composite lost 2%, or 469.32, to 22,597.15.
American technology giant Cisco Systems sank 12.3% even though it reported better-than-expected quarterly results, as investors were concerned about its ongoing profitability.
Shares of technology company AppLovin plunged 19.7% despite better-than-expected quarterly profits as worries over AI undercutting its business weighed on its stock price.
Fears of AI disruptions across industries in recent days have hit investor confidence in companies, especially in software stocks. Some analysts say uncertainties surrounding the AI disruption risk are likely to go on for a while. Many remained concerned about whether massive AI investments by companies will eventually pay off.
But other analysts are more optimistic. Economists at Capital Economics, for example, argue that they still believe in the AI rally, and that this year will be a “good year” for the S&P 500, building on the technology-led gains.
“Our sense remains that a sustained reversal of tech outperformance would require a big slide in tech itself,” Thomas Mathews, head of markets for Asia Pacific at Capital Economics wrote in a recent note. “We think tech will fare very well.”
For other U.S. stocks, McDonald’s was up 2.7% following stronger-than-expected profits. Walmart gained 3.8%.
Investors and economists are also paying close attention to the U.S. inflation data set to be released Friday, which could impact on the Federal Reserve’s interest rate moves. Some economists expect the likelihood of another rate cut is low for the next few months.
In other dealings early Friday, U.S. benchmark crude oil lost 0.1% to $62.75 a barrel. Brent crude, the international standard, fell less than 0.1% to $67.46 per barrel.
Gold and silver prices gained. The price of gold — which earlier fell back below $5,000 per ounce — was up 0.4% to $4,970.30. The price of silver rose 1% to $76.45 per ounce.
The U.S. dollar rose to 153.38 Japanese yen from 152.72 yen. The euro was trading at $1.1857, down from $1.1871.
Trader Fred Demarco, right, works on the floor of the New York Stock Exchange, Friday, Feb. 13, 2026, in New York. (AP Photo/Richard Drew)
Douglas Johnson works on the floor at the New York Stock Exchange in New York, Thursday, Feb. 12, 2026. (AP Photo/Seth Wenig)
James Conti works on the floor at the New York Stock Exchange in New York, Thursday, Feb. 12, 2026. (AP Photo/Seth Wenig)
PHOENIX (AP) — When Jennifer Rizzotti arrived at UConn as a player in 1992, the expectations around the school, as well as the women's basketball landscape, were much different than they are today.
Geno Auriemma was only in his eighth season coaching the Huskies. UConn hadn't yet hoisted a national championship trophy. There wasn't nearly the same pressure to win that the Huskies face now. And women's basketball as a whole hadn't seen the unprecedented growth in sponsorships and popularity it is experiencing now.
By the 1994-95 season, Rizzotti and fellow UConn standout Rebecca Lobo helped the Huskies go undefeated en route to their first national title. Everything about the program changed, and even as women's basketball has evolved and skyrocketed in exposure, the Huskies have remained the gold standard.
“There was no thought that we were going to be undefeated,” Rizzotti said. “We didn't have that internal pressure. We didn't have external pressure. That's the last time a UConn team could play that way. Think about that: 1995 is the last time a UConn team could play without that kind of pressure.”
The Huskies have since won 12 national titles, reached the Final Four 25 times and won 30 conference titles. They've been ranked 653 weeks in The Associated Press women's basketball poll, and Auriemma is the winningest coach in women's college basketball history.
As conversations around the Final Four in Phoenix center around how the women's game has grown, the Huskies, who are competing for the second straight national title, have been at the forefront.
“You could tell that everything was aligned for this program to reach that pinnacle," said Rizzotti, who is currently the president of the WNBA’s Connecticut Sun. “I don't think anything of us would have predicted that it would have gone on as it had.”
Rizzotti joined former UConn players Stefanie Dolson, currently with the WNBA's Washington Mystics, and Shea Ralph, now Vanderbilt's coach, on a panel Friday at “The AP Top 25 Fan Poll Experience,” which is being held at Arizona State’s First Amendment Forum in the Walter Cronkite School of Journalism and Mass Communication.
Earlier Friday, Big East commissioner Val Ackerman, former Metro Atlantic Athletic Conference (MAAC) commissioner Rich Ensor and AP women’s poll founder Mel Greenberg spoke on a panel moderated by college basketball analyst Debbie Antonelli on the growth of women's basketball at the college and pro levels.
“I think women's basketball has never been more popular,” said Ackerman, who was the first president of the WNBA from 1996-2005. “I think schools that are succeeding are really seeing, feeling and believing in the (return on investment). And UConn's a case in point.”
Ackerman sees the investment that the schools in this year's Final Four — UConn, Texas, South Carolina, and UCLA — have made in their programs to reach back-to-back national semifinals as a reflection of the growing importance of pouring resources into women's hoops.
“And that's done a world of good,” she added. “Programs like South Carolina, UCLA, you see what they're doing for their campuses. The investment is paying off in terms of the brand and engagement with the community and school reputation.”
Even as women's sports are drawing record crowds and WNBA players are set to make more money than ever, Ensor sees much more room to capitalize on this current growth.
“It has been about breaking down barriers, and they still exist,” Ensor said. “We marvel at what's happened, but we still recognize there's a lot more that's to come.”
AP Top 25 Fan Poll Experience: https://apnews.com/https:/apnews.com/projects/arizona-state-fan-poll-experience/
AP March Madness bracket: https://apnews.com/hub/ncaa-womens-bracket and coverage: https://apnews.com/hub/march-madness
FILE - Connecticut's Breanna Stewart, left, drives to the basket as Cincinnati's Maya Benham, right, defends during the first half of an NCAA college basketball game Wednesday, Feb. 17, 2016, in Storrs, Conn. (AP Photo/Jessica Hill, File)
From left, Debbie Antonelli, Val Ackerman, Rich Ensor and Mel Greenberg sit on a panel during an event Friday, April 3, 2026, in Phoenix. (AP Photo/John Locher)
Val Ackerman, commissioner of the Big East Conference, listens during an event Friday, April 3, 2026, in Phoenix. (AP Photo/John Locher)
UConn head coach Geno Auriemma reacts after his team defeated Notre Dame in the Elite Eight of the NCAA college basketball tournament, Sunday, March 29, 2026, in Fort Worth, Texas. (AP Photo/LM Otero)
