The three major indexes on Wall Street opened flat amid selling in tech stocks.
As of 10:40 a.m. on the 1st local time on the New York Stock Exchange, the Dow Jones Industrial Average fell 84.31 points, or 0.16%, to 52,403.51 from the previous session. The Standard & Poor's (S&P) 500 slipped 5.2 points, or 0.07%, to 7,494.16 from the previous session, and the Nasdaq composite was down 98.94 points, or 0.38%, at 26,114.78.
On the first trading day of the second half of the year, tech stocks saw selling pressure, denting investor sentiment. Micron and SanDisk fell 8.39% and 9.47%, respectively, and Nvidia also fell 2.19%.
Investors are taking profits in semiconductor stocks after a record first-half rally.
Market participants also focused on comments by Chair Kevin Warsh of the Federal Reserve (Fed). Attending a European Central Bank (ECB) forum, Warsh said prices are too high but assessed that inflation risks have eased.
"Over the past four weeks, inflation expectations have come down, and inflation risks have also declined," he said, adding, "We are all seeing that prices are too high. And I don't think I am the only person on this stage who has reaffirmed the resolve to achieve price stability."