Woofun AI reports that global stock markets declined on Friday as investors retreated from AI technology stocks. Japan's tech-heavy Nikkei 225 index fell more than 5% during the session, marking one of the worst trading days for the Tokyo market in recent history. U.S. stock index futures indicated a lower open on Wall Street, while Euro Stoxx 600 futures pointed to a 0.6% decline at the European open.

Richard Yetsenga, Chief Economist and Head of Research at ANZ Bank, stated that this sell-off has uncomfortably exposed how heavily dependent many current markets and a broad swath of economic activity have become on the AI frenzy.