HONG KONG (AP) — Asian shares Friday were mixed, with Chinese technology stocks rising as most other Asian equities declined.

A tariff tantrum. DeepSeek’s deep impact. The Philadelphia Eagles’ return to the Super Bowl. Investors have seen plenty to put them on edge so far in 2025.

A warning of a U.S. stock market bubble, advises diversification into value stocks, commodities, and international equities to mitigate risk.

The ramifications of Chinese startup DeepSeek, with its promise of delivering cheaper, more energy-efficient alternatives to harness artificial intelligence, have yet to be fully reflected in U.S. equities. That’s the thinking of Don Townswick, director of equity strategies at Conning Asset Management, which oversees $170 billion in assets.

Global investors are worried the emergence of a low-cost Chinese AI model will threaten the dominance of AI leaders.

The rest of the stock market could finally catch up to the Magnificent Seven this year—and it has nothing to do with DeepSeek. The gap in earnings growth between the Magnificent Seven and the rest of the benchmark index should compress from roughly 8 percent to less than 5 percent by the end of 2025,

The Chinese firm threatens the dominance of Silicon Valley’s AI elite, and its innovations show the technology could be more affordable and less costly to the environment