S&P 500 down 0.2%, Nasdaq down 0.1%, Dow down 0.1%

Stock markets opened lower on Wednesday, with the S&P 500 down 0.2%, the Nasdaq down 0.1%, and the Dow Jones Industrial Average also down 0.1%. The decline came as investors digested mixed signals from the technology sector and awaited key economic data. Tech stocks, which had driven much of the market's performance earlier in the year, continued to face pressure, with chipmakers seeing significant losses. The VanEck Semiconductor ETF (SMH) fell 5.4%, with each dropping more than 10%.

The broader market decline was partly attributed to a rotation out of high-growth sectors, a trend that some analysts view as a sign of a maturing bull market. Ned Davis Research strategist Rob Anderson noted that such rotations are typical in extended bull markets and could indicate strength as the market moves into the second half of the year.

Investors are now turning their attention to the upcoming June jobs report, which is expected to show the addition of 115,000 jobs. The report will be closely watched for insights into the health of the labor market and its potential implications for Federal Reserve policy.