US stock futures slipped on Wednesday, extending losses from the previous session as a renewed selloff in semiconductor shares pressured the broader market. Investors continued to weigh mounting tensions in the Middle East and higher oil prices after the US launched new air strikes on Iran in response to recent attacks on vessels transiting the Strait of Hormuz. Market participants also stayed cautious ahead of the release of the Federal Reserve’s June meeting minutes, seeking further insight into the central bank’s policy outlook.
In Tuesday’s cash session, the tech-heavy Nasdaq Composite dropped 1.16%, while the S&P 500 lost 0.45% and the Dow Jones Industrial Average slipped 0.25%. Chipmakers came under fresh pressure as investors questioned whether AI hyperscalers can maintain their elevated infrastructure spending. Samsung’s 19-fold surge in quarterly profit failed to improve sentiment, and reports that China’s DeepSeek is developing its own AI chip further weighed on the sector.