Most U.S. stock indexes showed modest movements on Friday as a retreat in oil prices provided support to certain sectors, while declines in artificial intelligence (AI) stocks weighed on overall market performance. The trading day reflected ongoing volatility in tech stocks despite broader gains elsewhere.

The Standard & Poor’s 500 index fell slightly, closing down 3.47 points, or less than 0.1 percent, to 7,354.02. This marked only the second losing week for the index in the past 13 weeks. The Dow Jones Industrial Average dropped 44.51 points, or about 0.1 percent, ending at 51,876.11, while the Nasdaq Composite declined 60.98 points, or roughly 0.2 percent, to 25,297.62.

Friday’s market movements were influenced by a 3.8 percent decrease in Brent crude oil prices, which fell to $72.60 a barrel—below levels seen before the recent conflict involving the United States, Israel, and Iran. The confrontation had prompted the closure of the Strait of Hormuz and disrupted oil shipments internationally. Lower oil prices helped lift shares of companies exposed to fuel costs, with airlines such as United Airlines climbing modestly.

Healthcare stocks also contributed positively following a European Medicines Agency committee’s recommendation to approve several new drugs and extend various therapeutic indications. Eli Lilly saw its stock rise more than 7 percent, benefiting from the regulatory advances.

Despite these gains, AI-related stocks exerted downward pressure on the market. After leading rallies for years, AI shares have faced investor skepticism about whether earnings can justify their lofty valuations, amplifying volatility. Micron Technology, a key memory chip supplier benefiting from AI-driven demand, fell between 5.5 and 6.7 percent on Friday (estimates vary), marking one of the heaviest drags on the S&P 500. Investors are concerned that rising component prices—in part spurred by chip demand—are pushing companies like Apple to raise product prices, potentially reducing consumer demand.

SpaceX, which went public earlier this month and also owns the AI-focused xAI enterprise, experienced significant intraday swings. Shares briefly dropped nearly 3 percent in morning trading, dipping below $149, before recovering to end slightly higher. The stock had surged above $225 shortly after its IPO, reflecting market excitement about Elon Musk’s ventures but also illustrating the current price volatility.

The largest percentage decliner within the S&P 500 was ON Semiconductor, which plunged about 24 percent after announcing a $7 billion all-stock acquisition of Synaptics.

International markets also felt the ripple effects of AI stock declines. In Japan, SoftBank Group Corp., a major investor in OpenAI (maker of ChatGPT), plunged approximately 12.5 percent, dragging the Nikkei 225 down 4.2 percent. Reports indicate that OpenAI may delay its planned initial public offering until next year, a move possibly precipitated by wavering investor enthusiasm following recent AI stock instability. South Korean technology giants SK Hynix and Samsung Electronics also suffered double-digit and mid-single-digit losses, respectively, contributing to a 5.8 percent drop in the Kospi index.

In fixed income markets, Treasury yields softened alongside oil prices, with the 10-year yield falling to 4.37 percent from 4.40 percent the previous day. A survey showed that U.S. consumer inflation expectations edged down slightly to 4.6 percent for the coming year. While still elevated, this moderation may reduce the risk of an inflationary spiral driven by consumer behavior.

Overall, the market balance on Friday highlighted sectoral divergence: easing energy costs and healthcare momentum supported gains, while skepticism about AI profitability and valuation pressures kept the overall market restrained.