LONDON, SYDNEY—Global stocks edged lower on Friday after disappointing tech earnings sapped risk appetite, while the dollar soared against the yen.
The MSCI World index of global shares, which has risen more than 16 percent this year, dipped 0.3 percent. Europe’s STOXX 600 was flat and Germany’s tech-heavy Dax slipped 0.3 percent.
Following steep post-earnings plunges in Tesla and Netflix earlier in the week and chipmaker TSMC warning of a drop in 2023 sales, a sub-index of European technology shares lost 0.9 percent.
The moves came after Wall Street’s tech-heavy Nasdaq share index fell 2 percent on Thursday, its biggest one-day loss since March. Investors took profits amid concerns about tech stock valuations, which have been supported by exuberance about the potential of artificial intelligence that has helped the Nasdaq gain about 40 percent year-to-date….