US Stocks Waver on Wednesday

2026-07-29 13:38 By Andre Joaquim 1 min. read

US stock indices fell on Wednesday amid further fragility for chip producers ahead of major tech earnings and the Federal Reserve rate decision.

The S&P 500 and the Nasdaq edged lower, while the Dow lost over 400 points to halt its recent outperformance.

Microsoft and Meta fell over 0.5% ahead of their earnings reports after the bell, the latest bellwether for AI infrastructure spending.

Concerns that AI capital expenditure is being overdone recently pressured magnificent seven stocks and triggered a selloff for chip producers that trimmed their surge late last quarter.

Still, memory producers were relatively steady despite pessimistic earnings by SK Hynix.

Meanwhile, the Fed is expected to hold rates unchanged, although dissents for a hike could take place amid signs of a fractured FOMC.

The Dow was pressured by a flareup in oil prices following fresh strikes between Iran and the US, adding to pro-inflationary risks.

Visa traded 1% down despite posting growth in revenue last quarter.



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