A 6.27% drop in semiconductor stocks weighed on the S&P 500, though broader market strength lifted the equal-weight index to a new high.
The S&P 500 fell 0.22% as a sharp decline in chip stocks offset gains elsewhere, while the equal-weighted version of the index rose 0.24% to a record. The Philly semiconductor index plunged 6.27%, dragging down tech-heavy benchmarks despite strength in individual names like Meta, which surged 8.81% on cloud infrastructure plans.
Futures pointed to modest gains, with S&P 500 contracts up 0.09% and European equities stabilizing. In Asia, markets recovered from early losses, with the Hang Seng rising 1.19% and Japan’s TOPIX up 0.63%, though the Nikkei and CSI 300 remained in negative territory.
The divergence highlighted a rotation beneath headline weakness, with broader market resilience contrasting sector-specific pressure.