The S&P 500 is on track for a monthly drop after a volatile February. The market experienced sharp fluctuations in February due to dual concerns about an artificial intelligence (AI) trading bubble and the disruptive power of the technology.

U.S. benchmark stock index futures fell 0.2%, after a sell-off by chipmakers on Thursday wiped out the index’s gains for the week. The Stoxx Europe 600 is on track for its eighth consecutive monthly gain, its longest winning streak in over a decade. The MSCI Asia Pacific Index is on track for its best February performance ever.

The disruptive potential of artificial intelligence has been causing volatility in U.S. stocks for weeks, a phenomenon traders have dubbed the “AI panic trade.” Leading AI companies that have driven the S&P 500’s rise for years have also lost momentum, prompting investors to shift funds to overseas markets and companies related to overall economic growth.

“This strong performance highlights the potential for continued overvaluation in certain U.S. asset classes and concerns about the future independence of the Federal Reserve’s monetary policy,” said Guillermo Hernandez Sampere, head of trading at MPPM Asset Management. “Unless a recession occurs in Europe, this strong performance should continue.”

U.S. Treasury prices were little changed on Friday, with the 10-year Treasury yield on track for its best monthly performance in nearly a year, after the yield plunged 24 basis points to around 4.00% in February. The dollar is on track for its fourth consecutive monthly decline. Gold prices were flat but are on track for their seventh consecutive monthly gain.