World Shares Log Modest Losses Friday  11/13 04:49

   Shares were mostly lower Friday in Europe and Asia, but losses remained 
modest as investors assessed how Jensen Huang's resignation as Nvidia CEO might 
affect the global artificial intelligence industry.

   HONG KONG (AP) -- Shares were mostly lower Friday in Europe and Asia, but 
losses remained modest as investors assessed how Jensen Huang's resignation as 
Nvidia CEO might affect the global artificial intelligence industry.

   A global outage for Microsoft web services disrupted email accounts and some 
other applications worldwide but appeared to have scant direct impact on 
markets.

   Microsoft said in an update Friday that the outage was affecting a wide 
range of Microsoft 365 offerings that interact with its Exchange Online and 
email services. Services including Outlook, Teams and AI assistant Copilot were 
reported by users to be down.

   U.S. futures were little changed.

   In early European trading, Germany's DAX edged 0.1% lower, to 26,748.60 and 
the CAC 40 in Paris also shed 0.1%, to 8,353.98. Britain's FTSE 100 fell 0.1% 
to 10,856.66.

   Japan's Nikkei 225 rose 0.5% to 61,142.35. Shares of chip equipment maker 
Tokyo Electron were up 1.7%, while memory chip maker Kioxia Holdings dropped 
2.3%. OpenAI investor SoftBank Group lost 5.1%.

   South Korea's benchmark Kospi index declined 1% to 5,290.53. Samsung 
Electronics, one of South Korea's most valuable companies, was down 1%. Memory 
chipmaker SK Hynix fell 3%.

   Taiwan's Taiex gained 1.4%, with its leading chipmaker TSMC, or Taiwan 
Semiconductor Manufacturing Co., adding 0.4%.

   The departure of Huang, who co-founded Nvidia and has been a key architect 
of its role at the center of the AI boom, has raised questions about the 
company's future. Its shares fell 4% after his resignation was announced. Huang 
had been the face of Nvidia and was deemed by some in the industry as bigger 
than Nvidia itself.

   Huang stepped down after his affair with a Chinese tech executive raised 
U.S. national security concerns. Nvidia's longtime chief financial officer, 
Colette Kress, will be its interim CEO.

   A lynchpin of the AI boom, Nvidia trades off with Apple as Wall Street's 
most valuable company and has invested heavily in other AI firms. Market 
watchers will be keeping a keen eye out for what Nvidia's woes might mean for 
pending public debuts of AI companies, such as Anthropic's pending IPO, valued 
at $1.3 trillion.

   Share prices for many Asian companies that make the computer chips, servers 
and other hardware used for AI have been closely linked to the speed of AI 
infrastructure development in the U.S.

   Hong Kong's Hang Seng index gave up 1.6% to 23,637.60. The Shanghai 
Composite index slid 0.6% to 3,634.35.

   Australia's S&P/ASX 200 slipped 0.7% to 9,082.20.

   India's Sensex fell 0.6%.

   On Thursday, Wall Street's benchmark S&P 500 slipped 0.4%. The Dow Jones 
Industrial Average dropped 0.4%, while the technology-heavy Nasdaq composite 
also declined 0.4%.

   Shares of some of Nvidia's rivals rose on Thursday. That includes AMD, or 
Advanced Micro Devices, whose stock rose 5.9%.

   Stocks were also under broad pressure as oil prices climbed after U.S. 
President Donald Trump said Thursday the U.S. didn't "need a deal with Iran" 
even as the conflict in the Middle East drags on.

   "We don't need a deal with Iran," he posted on social media. "Those days 
have long since passed. We've got their money, Hundreds of Billions of Dollars, 
and we've got their Strait!"

   Early Friday, Brent crude, the international standard, was up 0.3% at $96.07 
a barrel. It was trading near $72 per barrel in late February before the Iran 
war began.

   Benchmark U.S. crude edged 0.1% higher, to $88.08 a barrel.

   The U.S. dollar rose to 159.92 Japanese yen from 159.84 yen. The euro was 
trading at $1.1066, up from $1.1055.