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TOKYO — <\/span>Global shares traded mostly lower Tuesday as optimism encouraged by a record rally on Wall Street clashed with anxiety about surging oil prices and a possible AI bubble<\/a>.<\/p>\n France’s CAC 40 slipped 0.6% in early trading to 8,006.60, while the German DAX dipped 0.8% to 24,148.77. Britain’s FTSE 100 shed 0.5% to 10,219.65. U.S. shares were set to drift lower, with Dow futures down nearly 0.1% at 49,763.00. S&P 500 futures slipped 0.4% to 7,409.25. <\/p>\n In Asia, Japan’s benchmark Nikkei 225 added 0.5% to finish at 62,742.57. South Korea’s Kospi dropped 2.3% to 7,643.15, in what analysts are categorizing as fallout from overreliance on fraying AI hopes. <\/p>\n \u201cGlobal equities remain dangerously dependent on a tiny cluster of AI leaders, creating a rally structure that looks powerful on the surface but increasingly fragile underneath,\u201d said Stephen Innes, analyst with SPI Asset Management. <\/p>\n He believes South Korea may be among the first major economies that will undergo what he called “the political redistribution phase of the AI boom.\u201d <\/p>\n Australia’s S&P\/ASX 200 dipped 0.4% to 8,670.70. Hong Kong’s Hang Seng lost earlier gains and fell 0.2% to 26,347.91, while the Shanghai Composite lost nearly 0.3% to 4,214.49. <\/p>\n Oil prices continued to rise, as the war with Iran<\/a> threatened to drag on<\/a>. Benchmark U.S. crude rose $2.90 to $100.97 a barrel. Brent crude, the international standard, climbed $2.61 to $106.82 a barrel. <\/p>\n U.S. President Donald Trump described the U.S.-Iran ceasefire as on \u201clife support\u201d after rejecting Iran\u2019s latest proposal to end the war. That raises the stakes for Trump\u2019s trip this week to China<\/a>. China is the biggest buyer of Iran\u2019s sanctioned crude oil.<\/p>\n The war has already sent the price for a barrel of Brent racing up from prewar levels of roughly $70 and delivered inflation through the global economy. The war has shut the Strait of Hormuz<\/a> and kept oil tankers stuck in the Persian Gulf instead of delivering crude to customers worldwide.<\/p>\n Still, some companies are reporting bigger profit<\/a> than analysts expected, which means the U.S. economy is holding up<\/a> even though households are feeling discouraged<\/a> by expensive gasoline and tariffs. <\/p>\n In currency trading, the U.S. dollar rose to 157.62 Japanese yen from 157.12 yen. The euro cost $1.1747, down from $1.1787. <\/p>\n ___<\/p>\n AP Business Writer Stan Choe contributed to this report.<\/p>\n Yuri Kageyama is on Threads: https:\/\/www.threads.com\/@yurikageyama<\/a><\/p>\n<\/div>\n