A trader works on the floor of the New York Stock Exchange. <\/p>\n
NYSE<\/p>\n
U.S. stock futures were near flat Tuesday night as traders looked ahead to the release of Micron Technology<\/a>‘s earnings. <\/p>\n S&P 500 futures<\/a> and Nasdaq 100 futures<\/a> slipped less than 0.1%. Futures tied to the Dow Jones Industrial Average<\/a> fell 45 points, or roughly 0.1%.<\/p>\n Shares of Micron and Sandisk<\/a> were both up about 1% in extended trading. The two memory stocks tumbled 13% in the regular session. The Roundhill Memory ETF (DRAM)<\/a>, down 14% in the regular session, gained 2%.<\/p>\n Alphabet<\/a> also traded marginally higher after S&P Global said the Google parent would join the 30-stock Dow<\/a> ahead of trading next Monday.<\/p>\n A rout in the technology sector dragged the S&P 500<\/a> and tech-heavy Nasdaq Composite<\/a> lower on Tuesday, with the averages losing 1.44% and 2.21%, respectively. The blue-chip Dow Jones Industrial Average<\/a> shed 45.87 points, or 0.09%.<\/p>\n Asia-Pacific markets opened mixed Wednesday as investors assessed whether a rebound in technology shares could stabilize sentiment after a sharp Wall Street sell-off triggered steep losses across the region a day earlier.<\/p>\n Japan’s Nikkei 225<\/a> was down 0.2%, while South Korea’s Kospi jumped over 2% after posting a 10% decline the day before. In Australia, the S&P\/ASX 200<\/a> traded around the flatline.<\/p>\n Hong Kong Hang Seng index<\/a> futures were at 23,498, higher than the index’s last close of 23,336.28.<\/p>\n Investors sold off semiconductor-adjacent stocks in Tuesday’s session, with the VanEck Semiconductor ETF (SMH)<\/a> ending the day 7% lower. Intel<\/a> fell 6%, and Qualcomm<\/a> shed 8%. Traders rotated into more defensive names, lifting Walmart<\/a> nearly 2% and boosting tech stalwart IBM<\/a> 5%.<\/p>\n Arguments around technical positioning exhaustion “may be true, but I would argue there might be some fundamental risk emerging as well,” said Dan Skelly, head of market research and strategy at Morgan Stanley Wealth Management, on CNBC’s “Closing Bell: Overtime<\/a>” on Tuesday afternoon. <\/p>\n “We’ve heard about pricing wars among some of the model builders, we’ve heard about rental prices for old GPUs starting to decline, and we’ve also seen a shift in tone from Microsoft, who led the AI launch three years ago with ChatGPT and their partnership with Open AI,” he added. “Microsoft [is] now talking about a change in strategic direction for lower-cost models.”<\/p>\n Micron will report its latest earnings after the market closes on Wednesday. Analysts polled by FactSet see earnings of $20.83 per share on revenue of $35.75 billion.<\/p>\n Micron has had an astronomical run in 2026, with shares hitting a new all-time high<\/a> on Monday and ending Tuesday at $1,051.77 per share. But Jay Woods, chief market strategist at Freedom Capital Markets, warned the stock could fall after the earnings report<\/a>. <\/p>\n It might go “down to $1,000. That’s going to sound like a big drawdown, but it’s something that traders will be watching as it starts to get in line with this 20-day moving average,” he said.<\/p>\n