Stocks Pressured by a Renewed Selloff in Chipmakers

U.S. equity markets were pressured on a renewed selloff centered on chipmakers and AI-infrastructure stocks. The S&P 500 fell 0.46%, the Dow Jones Industrial Average lost 0.04%, and the Nasdaq 100 dropped 1.28%, with the Nasdaq 100 hitting a one-week low. September S&P and Nasdaq futures were also down, with E-mini S&P futures off 0.40% and E-mini Nasdaq futures down 1.30%. Chip-related weakness was linked to negative carryover from a 6% plunge in South Korea’s Kospi, driven by sharp losses at SK Hynix and Samsung Electronics. Bond yields rose after U.S. data that was generally positive for growth but more hawkish for Fed policy, lifting the 10-year Treasury to 4.58%. Oil climbed over 1% after new U.S. airstrikes on Iran and an attack on a sanctioned Iranian oil tanker in the Persian Gulf. Analysts expect Q2 earnings to rise about 23%, with AI infrastructure driving nearly 60% of S&P 500 EPS growth.