Ishares Semiconductor ETF

The Nasdaq Composite traded lower as Nvidia’s expanded buyback authorization drew buyers into the stock while the broader semiconductor group weakened. Higher Brent crude and elevated Treasury yields kept pressure on technology shares ahead of key inflation, manufacturing and employment data.

U.S. equities turned lower as a jump in crude oil and escalating Iran tensions undermined the rotation that had supported the Dow. Semiconductor weakness deepened, leaving investors focused on the FOMC press conference and major technology earnings after the close.

A sharp reversal in SK Hynix weighed on semiconductor shares and put the Nasdaq 100 under renewed pressure. Traders are also watching CPI, crude prices, bank earnings and key technical levels as the week’s risk calendar intensifies.