NEW YORK, Aug 9 — Nasdaq and S&P futures fell today after a dismal forecast from Micron Technology dragged chip stocks lower, while investors remained cautious ahead of inflation data that will feed into the US Federal Reserve’s rate hike plans.
Bank stocks edged higher in trading before the bell, tracking a rise in US Treasury yields on rate hike expectations. Peers Nvidia and Advanced Micro Devices fell 3.3 per cent and 1.9 per cent, respectively, extending the previous session’s sharp declines after a similar revenue warning from Nvidia.
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