US futures nearly unchanged as AI-related stocks hit by heavy selling, oil prices rise
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Options traders Chris Dattolo, Scott Frinzi, Justin Kanda, and Ravi Bhandari, left to right, work on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. /Yuki Iwamura)
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Specialist Gregg Maloney works on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. /Yuki Iwamura)
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A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
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Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
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Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), SK Hynix and Samsung Electronics Co. stock price at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
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Options traders Chris Dattolo, Scott Frinzi, Justin Kanda, and Ravi Bhandari, left to right, work on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. /Yuki Iwamura)
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Options traders Chris Dattolo, Scott Frinzi, Justin Kanda, and Ravi Bhandari, left to right, work on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. /Yuki Iwamura)
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Specialist Gregg Maloney works on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. /Yuki Iwamura)
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Specialist Gregg Maloney works on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. /Yuki Iwamura)
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A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
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A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
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Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
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Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
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Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), SK Hynix and Samsung Electronics Co. stock price at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
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Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), SK Hynix and Samsung Electronics Co. stock price at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 19, 2026. /Ahn Young-joon)
By
ELAINE KURTENBACH and MICHELLE CHAPMAN
Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year]
U.S. futures are flat as artificial intelligence-related stocks continue to sell off, while oil prices jetted higher again
AI-related stocks have become volatile in recent months as the value of company shares have soared while confidence in a pay off, at least soon, has waned
The futures for the S&P 500 were relatively unchanged, while those for the Dow Jones Industrial Average rose 0.1%. Nasdaq futures declined 0.1%
Oracle shares slipped more than 1% before the market opened Wednesday. Shares of Marvell Technology and Intel both fell nearly 2%. Micron Technology dipped 1%. The seller of computer memory was one of the largest drags on the S&P 500 Tuesday
Target’s stock declined 1.6% even as the retailer reported its second straight quarter of comparable sales gains Wednesday under new CEO Michael Fiddelke
Markets are also reacting to decision by President Donald Trump to delay U.S. tariffs on $20 billion worth of Canadian import
Later Wednesday, the Federal Reserve will release minutes from the most recent meeting of the rate-setting committee
Crude prices continue to climb with the conflict over the Strait of Hormuz unresolved. Brent crude, which was trading for around $70 per barrel before the start of the war, gained 1% to $91.91 per barrel early Wednesday. U.S. benchmark crude oil rose 1.1% to $84.99 per barrel
Bond yields have jumped since the war began because high oil prices are pushing inflation higher. That has increased the anxiety over government debt and is also one of the reasons the fast-growing tech sector, which thrives when borrowing costs are low, is under pressure
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The yield on the 10-year U.S. Treasury edged down to 4.70% from 4.72% Wednesday but remains well above its 3.97% level from just before the war with Iran began. The 30-year Treasury yield also ticked lower but is still near its highest level since 2007
High yields have already sent the average long-term U.S. mortgage rate near its highest level in a year, which has hurt the housing industry
In Europe, Germany’s DAX shed 0.1% to 26,084.43, while the CAC 40 in Paris rose 0.3% to 8,535.30. Britain’s FTSE 100 slipped 0.2% to 10,705.47
In Tokyo, the Nikkei 225 sank 3.2% to 65,326.42 as worries over rising bond yields coupled with selling of tech shares pulled the benchmark lower
The U.S. dollar fell to 159.13 Japanese yen from 159.61 yen. The euro rose to $1.1604 from $1.1577
Associated Press Business Writer Chan Ho-him in Hong Kong contributed
ELAINE KURTENBACH
