US equity markets reversed early gains to trade lower on Wednesday, as selling pressure in the technology sector continued to weigh on major indices.
The downturn marks the second consecutive session of weakness for tech-heavy benchmarks, even as individual names showed strength.
Memory chip maker Micron Technology surged double-digit percentage points after the opening bell, rallying on its quarterly results released after the closing bell on Tuesday.
The memory chip giant is widely viewed as a bellwether for demand in the artificial intelligence infrastructure build-out, and its strong performance provided a rare bright spot in a otherwise risk-off session.
Despite Micron’s outperformance, broader market sentiment remained fragile.
Investors had opened without clear direction, adopting a wait-and-see stance ahead of the earnings release.