US sharemarkets closed lower on Tuesday as another round of selling in semiconductor stocks offset gains in healthcare, financials and large-cap technology.
The Dow Jones Industrial Average fell 130.76 points, or 0.25%, to 52,925.15 after briefly reaching another intraday record high. The S&P 500 slipped 0.45% to 7,503.85, while the Nasdaq Composite declined 1.16% to 25,818.69.
Semiconductor stocks remained under pressure, with Micron falling 4.7%. KLA, Marvell Technology, Broadcom and AMD also declined, while the VanEck Semiconductor ETF dropped more than 3%.
Elsewhere, investors rotated into healthcare, financials and selected large-cap technology stocks. Eli Lilly gained almost 3%, while JPMorgan Chase and Microsoft also finished higher.
Australian Market Outlook
Australian shares are expected to open lower after renewed weakness in semiconductor stocks and higher oil prices weighed on global risk sentiment.
S&P/ASX 200 futures were down 39 points, or 0.4%, to 8,743.
Oil spiked higher after Iranian drones struck three ships in the Strait of Hormuz.
Locally, Reserve Bank of Australia Assistant Governor (Economic) Sarah Hunter is scheduled to speak at the Australian Conference of Economists at 11am AEST. Across the Tasman, the Reserve Bank of New Zealand will announce its latest interest rate decision at 12pm AEST.
