A global stock selloff deepens in Asia as the US dollar strengthens. The S&P 500 slid Thursday, erasing its gains for the year. European stock futures also decline.

US Treasuries advance, with the 10-year yield dropping to around 4.22%, a level not seen since December. Australian sovereign yields fall while Japanese government bond futures climb as Tokyo inflation slows more than expected.

A selloff in the stock market's most influential group drove the Nasdaq 100 to its lowest level since November as Nvidia Corp.'s results failed to revive the artificial intelligence rally. Equities sentiment was also hurt by news tariffs will come into force next week.

US government bonds trimmed losses as equities came under pressure, leaving yields near the lowest levels since December. Federal Reserve Bank of Cleveland President Beth Hammack said interest rates aren't “meaningfully restrictive” and should be held steady for some time.

OpenAI is rolling out an early version of its long-awaited new artificial intelligence model, GPT-4.5, to select users after hitting stumbling blocks in developing the AI system last year.