The S&P 500 is set for a monthly loss after a whirlwind February in which twin fears of a bubble in the artificial-intelligence trade and of the technology’s disruptive power drove sharp swings.

Futures on the US benchmark were 0.2% lower after Thursday’s selloff in chipmakers erased the gauge’s gains for the week. Europe’s Stoxx 600 was on track for an eighth consecutive monthly advance, its longest such streak in more than a decade. MSCI Inc.’s Asia-Pacific index headed for its best February on record.