S&P 500 Slips as Tech Stocks Retreat Amid Fed Inflation Concerns

The S&P 500 edged 0.2% lower on Wednesday, extending its losing streak to four sessions as tech stocks faltered and Federal Reserve minutes revealed lingering concerns over tariffs and inflation. The Nasdaq dropped 0.7%, while the Dow eked out a marginal gain.

Intel shares plunged 7%, marking the index's worst performer, as speculation swirled around a potential U.S. government equity stake. The decline erased prior gains fueled by SoftBank's recent investment announcement. Chipmakers with CHIPS Act ties, including Micron Technology, followed suit amid reports of similar deal considerations.

Analog Devices bucked the trend, rallying after posting stronger-than-expected quarterly results. The semiconductor sector remains a focal point as policy interventions collide with earnings performance.