08.07.202611:31:25UTC+00US Futures Fall Further

US equity futures fell on Wednesday, extending the previous session’s losses as rising energy prices compounded an already weakening macroeconomic backdrop. S&P 500 and Dow Jones Industrial Average futures declined more than 1%, while Nasdaq 100 futures slid 1.6%. Treasury yields moved higher after President Trump effectively nullified the ceasefire with Iran following strikes by both sides, sending oil prices sharply higher and prompting markets to reassess inflation risks. Investors will look to the minutes of the Fed’s June FOMC meeting, due shortly, for further clues on policymakers’ appetite for additional interest rate hikes. Credit-sensitive sectors were under pressure, with bank and industrial shares trading lower in premarket activity. Semiconductor stocks also extended their selloff on worries that major cloud providers may be forced to rein in spending on AI infrastructure. Sentiment was further hurt by reports that leading Chinese firms are launching their own chip projects, clouding the market-share outlook for existing players. Micron, SanDisk, and Nvidia traded sharply lower before the open, while mega-cap tech names Meta, Amazon, and Microsoft fell as much as 2%.