US stock futures were mixed on Tuesday following a decline in semiconductor manufacturers that brought markets down in the previous session. The Dow Jones Industrial Average futures dropped slightly, while S&P 500 contracts edged up and Nasdaq 100 futures saw a slight increase. Chip stocks, which have been a major driver of the S&P’s growth this year, experienced a significant decline, with companies like Nvidia, Qualcomm, and Super Micro Computer leading the way. Despite this, there is optimism that the sell-off in this sector may not spread to other industries.
The Dow Jones closed higher on the previous day, while the S&P 500 and Nasdaq 100 saw losses. Nvidia in particular faced challenges, moving away from its position as the world’s most valuable company. However, experts suggest that this setback for Nvidia may not have a widespread impact on the market as a whole.
On the bond front, yields saw a slight increase, with the yield on the 10-year Treasury bond at 4.243% and the two-year return at 4.742%. The overall market sentiment remains cautious as investors monitor the developments in the semiconductor industry and the broader impact on the stock market.
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