Shares are mixed in Asia after the worst day for Nvidia’s stock since last spring dragged the U.S. market lower. U.S. futures fell as investors focused on comments by Block CEO Jack Dorsey on his company's decision to lay off 40% of its workforce because of labor-saving artificial intelligence. On Thursday, the S&P 500 fell 0.
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Now he's backing their productionOne Tech Tip: Unspoken group chat rules you're probably ignoring, but shouldn'tInspired by Catholic nuns, Kenyan Lutheran pastor becomes church’s first female presiding bishopSentados o de pie: desafío de Trump a demócratas, momento clave en discurso del Estado de la UniónUS-Iran nuclear talks wrap up with no announcement of a deal as the risk of war loomsThe Afternoon WireHighlights: Hillary Clinton's deposition in House Epstein investigationUS hockey player Brady Tkachuk slams White House TikTok as 'clearly fake' after anti-Canada slurJudge scolds Shia LaBeouf and orders him to rehab after Mardi Gras arrestAnthropic CEO says it 'cannot in good conscience accede' to Pentagon's demands for AI useOtters enjoy a snow day in Maryland during winter stormRaccoon goes on drunken rampage in Virginia liquor store and passes out on bathroom floorHow this AP photographer captured Taylor Swift and Travis Kelce's iconic kissAppeals court questions shifting reasons for Trump's EPA killing clean energy contractsSome people tape their mouths shut at night. Doctors wish they wouldn'tRFK Jr. fought pesticides for years. Now he's backing their productionOne Tech Tip: Unspoken group chat rules you're probably ignoring, but shouldn'tInspired by Catholic nuns, Kenyan Lutheran pastor becomes church’s first female presiding bishopSentados o de pie: desafío de Trump a demócratas, momento clave en discurso del Estado de la Unión | Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index , top center, and the foreign exchange rate between U.S. dollar and South Korean won, top center left, at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, Feb. 27, 2026. A currency trader passes by a screen showing the Korea Composite Stock Price Index , left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, Feb. 27, 2026. A currency trader watches a monitor near a screen showing the Korea Composite Stock Price Index , top center, and the foreign exchange rate between U.S. dollar and South Korean won, top left, at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, Feb. 27, 2026. A person stands as a vehicle passes by in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Feb. 26, 2026, in Tokyo. People walk near an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Feb. 26, 2026, in Tokyo. Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index , top center, and the foreign exchange rate between U.S. dollar and South Korean won, top center left, at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, Feb. 27, 2026. Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index , top center, and the foreign exchange rate between U.S. dollar and South Korean won, top center left, at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, Feb. 27, 2026. A currency trader passes by a screen showing the Korea Composite Stock Price Index , left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, Feb. 27, 2026. A currency trader passes by a screen showing the Korea Composite Stock Price Index , left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, Feb. 27, 2026. A currency trader watches a monitor near a screen showing the Korea Composite Stock Price Index , top center, and the foreign exchange rate between U.S. dollar and South Korean won, top left, at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, Feb. 27, 2026. A currency trader watches a monitor near a screen showing the Korea Composite Stock Price Index , top center, and the foreign exchange rate between U.S. dollar and South Korean won, top left, at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, Feb. 27, 2026. A person stands as a vehicle passes by in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Feb. 26, 2026, in Tokyo. A person stands as a vehicle passes by in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Feb. 26, 2026, in Tokyo. People walk near an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Feb. 26, 2026, in Tokyo. People walk near an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Feb. 26, 2026, in Tokyo. BANGKOK — Shares were mixed Friday in Asia after the worst day for Nvidia’s stock since last spring dragged U.S. stocks lower. U.S. futures fell as investors focused on comments by Block CEO Jack Dorsey on his company’s decision to lay off 40% of its workforce because of labor-savingIn Hong Kong, the Hang Seng jumped 0.8% to 26,578.03, while the Shanghai Composite index slipped 0.3% to 4,139.53.Australia’s S&P/ASX 200 was up 0.1% at 9,184.10, while India’s Sensex lost 0.4%.On Thursday, the S&P 500 shed 0.5% to 6,908.86. The Dow added less than 0.1% to 49,499.20, and the Nasdaq composite sank 1.2% to 22,878.38.ticked up last week, but not by any more than economists expected. It also remains relatively low compared with history.But such blowout performances have become so typical for Nvidia that they’re losing their oomph. Its stock sank 5.5% for its worst loss since April. Shares in Block, formerly known as Square, gained 5% on Thursday before it reported better than expected earnings, and then shot up more than 20% after the markets closed following Dorsey’s comments on laying off about 4,000 of its 10,000 employees. “We believe Block will be signficantly more valuable as a smaller, faster, intelligence-native company. Everything we do from here is in service of that,” Dorsey wrote in a letter to shareholders. Dorsey “just did what most CEOs have only whispered about in boardrooms,” Stephen Innes of SPI Asset Management wrote in a commentary. “For years we’ve debated whether AI would dent jobs at the margin. Now we have a public case study where the CEO explicitly says intelligence tools have changed what it means to build and run a company,” he said. Despite Nvidia’s troubles, seven stocks rose in the S&P 500 for every three that fell. Among them was Salesforce, which climbed 4% after it likewise reported a stronger profit for the latest quarter than analysts expected. Companies in industries as far flung as trucking logistics and financial services have seen their stocks come under attack by investors worried those businesses may lose out to AI or even become obsolete.to buy Warner Bros. Discovery’s studio and streaming business. That put Skydance-owned Paramount in a position to take over its Hollywood rival. Netflix said the price required to buy Warner after its board announced that Paramount’s offer was superior would make it a deal that is “no longer financially attractive.” On Thursday, Warner Bros. shares edged down 0.3% after the entertainment giant reported a $252 million loss for the fourth quarter. In other dealings early Friday, U.S. benchmark crude oil gained 43 cents to $65.64 per barrel. Crude prices have been swinging while theabout Iran’s nuclear program. A barrel of U.S. crude briefly fell as low as $63.60 on Thursday before it bounced back. A peaceful solution would lessen the threat of war, which could disrupt the global flow of oil and drive prices higher. The U.S. military has already built upELAINE KURTENBACH Based in Bangkok, Kurtenbach is the AP’s business editor for Asia, helping to improve and expand our coverage of regional economies, climate change and the transition toward carbon-free energy. She has been covering economic, social, environmental and political trends in China, Japan and Southeast Asia throughout her career.
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