PARIS (Reuters) – The New York Stock Exchange is moving down at the start of trading on Wednesday, weighed down by the decline in values ​​linked to semiconductors.

After a few minutes of trading, the Dow Jones index lost 93.34 points, or 0.28%, to 33,833.4 points and the wider Standard & Poor’s 500 lost 0.31% to 4,364.64 points.

The Nasdaq Composite lost 0.28%, or 37.946 points, to 13,517.727.

The S&P index of high technologies dropped 0.52% and that of the semiconductor sector fell 1.64%.

Among the securities that make up these indices, Nvidia and Advanced Micro Devices lost 3% and 1.74% respectively, in reaction to information from the Wall Street Journal according to which Washington is considering new restrictions on exports of artificial intelligence chips (AI ) to China.

In another category, General Mills fell nearly 4.5% after the packaged food maker said it expects full-year profit to fall below analysts’ estimates.

Investors await the intervention of the presidents of the Federal Reserve, Jerome Powell, and of the European Central Bank, Christine Lagarde, within the framework of the annual forum of the ECB in Portugal.

“(Jerome) Powell will reiterate that it’s all data driven, a quarter point rate hike is likely at the next meeting and all options are open for September,” said vice president John Brady. -president at RJ O’Brien & Associés.

Traders estimate a 76.9% chance that the Fed will hike rates 25 basis points in July and hold them at 5.25%-5.50% through the end of the year, according to Fed watch.

After Tuesday’s release of a series of statistics showing the strength of the US economy, markets will be watching the PCE inflation figures on Friday.

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(Laetitia Volga with Sruthi Shankar and Johann M Cherian, editing by Kate Entringer)

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