I=7 S&P 500 futures shed 0.8% while Nasdaq Composite futures fall 1.5%, driven by declines in chip stocks amid valuation concerns and rise in bond yields
The Philadelphia Semiconductor Index fell 1.4% on Tuesday and is down more than 7% over the last three days as investors grow concerned about elevated valuations and the sustainability of data center investment.
The 30-year Treasury bond yield rose about 6 basis points to 5.198%, its highest level since July 2007, following last week inflation reports.
I=7 iShares Expanded Tech-software index rallies more than 3% after Nvidia’s CEO dismissed AI concerns, IONOS up 7%+
“This is actually an incredible time to be a software company,” Huang said during his presentation. “A lot of people have said, Jensen, agentic AI is coming, therefore all of the software companies are going out of business. I said: it’s exactly the opposite. Because there are going to be so many agents, the world is no longer limited by the number of people. Therefore, those agents are going to use more tools than ever.”
I=7 S&P 500 sheds 0.7% while Nasdaq 100 futures fall over 1.2% amid ongoing Middle East tensions and disappointing earnings from Broadcom and CrowdStrike
Broadcom sheds more than 14% after it reported weaker-than-expected revenue for Q2 2026 and failed to raise guidance for the full year.
CrowdStrike also shed more than 10% after giving Q2 2026 guidance that is in-line with estimates but has been described as lackluster.
Market also continues monitoring developments in Middle East after U.S. and Iran exchanged air strikes yesterday.