World stocks track Wall Street's drop, erasing previous day's gains
[November 21, 2025] By
TERESA CEROJANO
MANILA, Philippines (AP) — World stocks on Friday tracked Wall Street’s
sharp drop in skittish trading, with major benchmarks erasing the
previous day’s gains.
Worries persist about a bubble in artificial intelligence -related
shares. Better than expected U.S. jobs data also have raised the
likelihood that the Federal Reserve will hold off on an interest rate
cut in December, disappointing investors who have been counting on rate
cuts to fuel more gains.
The future for the S&P 500 was up 0.2% while that for the Dow Jones
Industrial Average edged 0.3% higher.
In early European trading, Germany's DAX declined 0.9% to 23,063.05,
while Britain's FTSE 100 dropped 0.5% to 9,484.29. In Paris, the CAC 40
shed 0.6% to 7,935.43.
Other big recent winners also lost ground. Bitcoin dropped 4.5% to
$82,500, down from nearly $125,000 last month.
In Asian trading, Japan’s Nikkei 225 fell 2.4% to 48,625.88 as the
government approved a 21.3 trillion yen ($135 billion) stimulus package
that Prime Minister Sanae Takaichi promised as part of efforts to revive
the sluggish economy. However, the plans for higher government spending
that would delay progress toward trimming down the national debt have
put the yen and Japanese government bonds under pressure.
The yield on the 30-year government bond has been touching record levels
on heavy selling, hitting 3.37% on Friday.
Meanwhile, data released Friday showed the country's core inflation rate
excluding volatile food prices rose to 3.0% in October from 2.9% in
September.
Japan reported Friday that its exports to the rest of the world rose in
October, while those to the U.S. fell. Higher shipments to elsewhere in
Asia helped offset the drop in exports to the U.S due to President
Donald Trump's higher tariffs.
In the stock market, selling of tech shares dominated, with computer
chip test equipment maker Advantest sinking 12.1%, while chip maker
Tokyo Electron lost 7.1%.
South Korea’s KOSPI tumbled 3.8% to 3,853.26, reversing Thursday’s
gains. Samsung Electronics sank 5.8%, while SK Hynix plunged 8.8%.
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A currency trader watches monitors near a screen showing the Korea
Composite Stock Price Index (KOSPI) at the foreign exchange dealing
room of the Hana Bank headquarters in Seoul, South Korea, Friday,
Nov. 21, 2025. (AP Photo/Ahn Young-joon)
 In Chinese markets, Hong Kong’s Hang
Seng index skidded 2.4 % to 25,220.02 while the Shanghai Composite
index slid nearly 2.5% to 3,834.89, with pressure also coming from
escalating friction between China and Japan over Taiwan.
Taiwan’s Taiex shed 3.6%, with market heavyweight TSMC, the world's
biggest contract maker of semiconductors, falling 4.8%.
Australia’s S&P/ASX 200 fell 1.6% to 8,416.50. while India's BSE
Sensex declined 0.5%.
“What began as a textbook “Nvidia bounce” flipped into one of the
most violent intraday reversals since the April dump, and Asia —
ever the obedient understudy — marched directly into the same plunge
tank on the open," Stephen Innes of SPI Asset Management said in a
commentary.
On Thursday, jarring swings rocked Wall Street, and U.S. stocks
erased a big morning gain to drop as the market remains skittish
following weeks of doubts and erratic moves.
The S&P 500 erased early gains to fall 1.6% to 6,538.76, while the
Dow Jones Industrial Average dropped 0.8% to 45,752.26. The Nasdaq
composite sank 2.2% to 22,078.05.
Nvidia initially appeared to tamp down the worries about a bubble
for AI stocks after reporting a big profit for the summer, along
with a forecast for coming revenue that easily cleared analysts’
expectations. By delivering strong profits and indicating more are
coming, Nvidia can justify its stock’s price gains and make it look
less expensive.
In other dealings early Friday, U.S. benchmark crude oil slid $1.17
to $57.82 per barrel. Brent crude, the international standard, lost
$1.11 to $62.27 per barrel.
The U.S. dollar fell to 156.65 Japanese yen from 157.46 yen. The
euro rose to $1.1521 from $1.1529.
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