Global shares were mostly lower Friday after a retreat on Wall Street, where a drop in Nvidia stock pulled stocks lower, the Associated Press reports.
The future for the Dow Jones Industrial Average edged 0.1% lower while that for the S&P 500 slipped 0.2%.
Japan’s benchmark Nikkei 225 finished little changed, down less than 0.1% at 38,596.47, after the government reported that the inflation rate ticked higher for the first time in three months, to 2.5% in May, up from 2.2% in April.
The Japanese yen was trading near 34-year lows against the U.S. dollar, at 158.88, compared with 158.92 late Thursday.
The U.S. Treasury put Japan on its watchlist for potential manipulation of its currency on Thursday, though its annual report concluded that no major trading partner had engaged in distorting its currency to seek an advantage.
On Thursday, the S&P 500 slipped 0.3% Thursday from its all-time high set before Wednesday’s holiday for financial markets. The Nasdaq composite also pulled back from its record, falling 0.8%. The Dow Jones Industrial Average beat the market with a gain of 0.8%.
Nvidia gave up an early gain and fell 3.5% to put at risk an eight-week winning streak. The company’s computer chips are helping to power the move into AI, which proponents see producing explosive growth in productivity and profits, and it’s already up 164% this year after more than tripling last year.
In other dealings early Friday, benchmark U.S. crude oil fell 6 cents to $81.23 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, shed 11 cents to $85.60 a barrel.
