U.S. futures slipped on Wednesday as chipmakers came under pressure following a strong first half of the year.
Futures tied to the Nasdaq 100 dropped 0.9%, while S&P 500 futures shed 0.3%. The Dow Jones Industrial Average fell 181 points, or 0.3%.
Micron stock plunged 7% in premarket trading on Wednesday, although it was still up 304% in the year to date. Sandisk shed nearly 9%, losing some steam after gaining more than 850% in the first half of 2026.
Their declines come as investors take profit on semiconductor stocks following a record-smashing first half of the year for the group.
The major averages also closed out a strong first half. In the first six months of the year, the Dow climbed 8.9%, marking its best first-half performance since 2021.
The overall market's outperformance in the first six months of 2026 was driven by a surge in chip and AI-related names.
Heading into the second half of the year, Federal Reserve Chairman Kevin Warsh will speak at the European Central Bank Forum on Central Banking in Sintra, Portugal.
