Australia

Australian shares are set to open lower, after U.S. stocks ended broadly lower as major indexes pulled back from recent heights.

ASX futures were down 1.08% or 87 points as of 8:00am on Friday, suggesting a lower open.

A broad decline in U.S. stocks pushed the Dow Jones Industrial Average down more than 500 points Thursday, snapping a six-session winning streak for the blue-chip index.

The Dow shed 533 points, or 1.3%, to 40,665.02 a day after closing a new record. The S&P 500 fell 0.8%. The Nasdaq Composite dropped 0.7%.

In commodity markets, Brent crude oil was down 0.4% to US$84.74 a barrel, while gold was down 0.6% at US$2,445.08.

The Australian dollar was at 67.04 US cents, down from its previous close of 67.26.

Asia

Chinese shares close higher, reversing opening losses. Investors are awaiting the official readout of the Third Plenum meeting, which concludes today. Telecommunication and consumer sectors led the gains with China Mobile up 3.1% and China Unicom rising 1.7%. Yonghui Superstores rose 5.4%. Meanwhile, semiconductor and solar stocks declined. GigaDevice Semiconductor and TCL Zhonghuan Renewable Energy Technology fell 2.2% and 2.1%, respectively. The benchmark Shanghai Composite Index closed 0.5% higher at 2,977.13, the Shenzhen Composite Index gained 0.3% and the ChiNext Price Index rose 1.25%.

Hong Kong's Hang Seng Index closed 0.2% higher at 17,778.41 after fluctuating between gains and losses. Hong Kong stocks lacked direction, and Asian equities overall were mixed as semiconductor companies suffered from selloffs amid concerns about U.S. sanctions, Sonija Li, head of retail research at MIB Securities HK, writes in a note. Among the advancers, Nongfu Spring rose 6.5%, China Hongqiao Group gained 3.55% and CK Infrastructure was 2.9% higher. Technology shares fell, weighed by the tech-sector selloff on Wall Street overnight. Trip.com fell 3.1%, Baidu was 2.4% lower and JD Health lost 1.8%. The Hang Seng Tech Index ended 0.8% lower.

Japanese stocks end lower, dragged by falls in chip-related stocks, as recent enthusiasm over artificial intelligence eases and the yen rebounds. Tokyo Electron Ltd. drops 8.7% and SoftBank Group sheds 6.1%. The Nikkei Stock Average falls 2.4% to 40,126.35. USD/JPY is at 156.12, compared with 156.19 as of Wednesday 5 p.m. Eastern time. Investors are focusing on economic data and their policy implications, ahead of the earnings season set to begin next week. The 10-year Japanese government bond yield stays flat at 1.030%.

Indian shares ended higher as positive earnings reports supported investor sentiment. "After a sustained period of bullish dominance, there is now a more balanced market sentiment, reflecting a potential sense of exhaustion following the recent rally," Osho Krishan, senior analyst at Angel One, says in a research note. Technology and bank stocks led the gains. Tata Consultancy Services advanced 3.3%, Infosys climbed 1.9% and Tech Mahindra was 1.6% higher. Kotak Mahindra Bank added 1.0% and ICICI Bank gained 0.8%. Steel stocks weighed on the market, with Tata Steel down 0.4% and JSW Steel shedding 0.9%. The benchmark Sensex rose 0.8% to close at 81,343.46.

Europe

Stocks in the U.K. rose Thursday, as the FTSE 100 Index increased 0.2% to 8204.89.

Among large companies, Ocado Group PLC was the biggest gainer during the session, surging 9.8%, and Frasers Group PLC surged 9.2%. Dunelm Group PLC rounded out the top three movers on Thursday, as shares surged 8.5%.

Antofagasta PLC posted the largest decline, falling 4.9%, followed by shares of Melrose Industries PLC, which fell 3.8%. Shares of EasyJet PLC fell 3.7%.

In other parts of Europe markets closed mixed, with the STOXX Europe 600 Index down 0.2% to 514.01, Germany's DAX slipped 0.5% to 18,354.76 and France's CAC 40 gained 0.2% to 7,586.55.

North America

A broad decline in U.S. stocks pushed the Dow Jones Industrial Average down more than 500 points Thursday, snapping a six-session winning streak for the blue-chip index.

Investors have been shifting from the megacap tech stocks that dominated the first half of the year into areas of the market that could benefit from potential rate cuts, such as shares of smaller companies and more economically sensitive sectors.

But Thursday's selloff extended beyond tech shares, with all but one of the S&P 500's 11 sectors closing lower. Only three of the Dow industrials' 30 stocks finished higher. Even the small-cap Russell 2000 index, which earlier this week reached a new multiyear high, fell 1.8%.

The Dow shed 533 points, or 1.3%, to 40665.02 a day after closing a new record. The S&P 500 fell 0.8%. The Nasdaq Composite dropped 0.7%.

"Today is a breather in the breakneck rotation we've seen," said Jim Smigiel, chief investment officer of SEI.

The rotation has been largely driven by increased conviction from investors that the Federal Reserve could begin cutting interest rates in September. That is giving investors confidence to buy areas of the market that got beaten down when rates were rising.

"We expect that interest-rate cuts will help broaden out the participation in markets, which is always a healthy thing," said Ayako Yoshioka, senior portfolio manager at Wealth Enhancement Group.

Shares of semiconductor companies recovered some ground on Thursday after comments from former President Donald Trump about Taiwan weighed on the sector Wednesday. The Republican presidential nominee said Taiwan should pay for U.S. military support and questioned subsidies for a Taiwan Semiconductor Manufacturing factory.

TSMC, the world's largest contract chip maker, posted a jump in profit and its U.S.-listed shares rose 0.4%. The PHLX Semiconductor index gained 0.5%. Nvidia rose 2.6%, but Advanced Micro Devices declined 2.3%.

Domino's Pizza shares slid 14% after the world's biggest pizza chain warned that it would open substantially fewer new locations this year than previously anticipated.

Shares of Beyond Meat fell 10% after the meat-substitute maker engaged with bondholders to start discussions about a restructuring, The Wall Street Journal reported.

Blackstone's stock rose 1.2% after the firm reported lower quarterly earnings, but struck a bullish tone on dealmaking.

Energy stocks were the only S&P 500 sector to eke out a gain, rising 0.3%. Chevron added 0.5%, one of the few gainers in the Dow industrials.

On the economic data front, weekly jobless claims came in at 243,000, the Labor Department reported. That was much higher than the previous week and more than economists expected.

Benchmark 10-year Treasury yields ticked higher to 4.188%, from 4.143%. Yields on 10-year notes have fallen for nine of the past 12 sessions, driven by growing expectations for rate cuts.