- On news that Washington lawmakers are exploring new restrictions on chip sales to China, the largest US chipmakers experienced significant losses in premarket trade.
- Nasdaq 100 Index futures fell 0.5%, while Nvidia and AMD both fell more than 3%. According to a late-Tuesday Wall Street Journal article, lawmakers have talked about halting some sales of AI chips to China, which may inflame existing tensions between the two nations.
- Equities in other countries were generally up, catching up with yesterday's tech-led gain in the US. Japan's Nikkei 225 gained 2%, and Europe's STOXX 600 Index rose 0.5%.
- Investors are also anticipating news from a central banking forum being held in Portugal, where speakers including ECB's President Lagarde, Fed's Powell, BoJ's Governor Ueda, and BoE's Governor Bailey are scheduled to speak later in the day.
- S&P: China ratings affirmed at 'A+/A-1'. Outlook stable.
- ECB's de Guindos: The July rate hike is set.
