The S&P 500 slipped 0.2% Wednesday as another wave of selling hit semiconductor stocks, with the Nasdaq shedding 0.7% while the Dow finished little changed. Sandisk, Micron Technology and Intel led the retreat as investors questioned whether the AI trade has sprinted too far, too fast. Meta bucked the trend, leading six of the Magnificent Seven higher after Bloomberg reported the company is exploring selling surplus computing power to outside customers. Trading was subdued as Wall Street headed into the Fourth of July long weekend, with many investors reluctant to place big bets before Thursday's closely watched jobs report. Economists expect the June nonfarm payrolls report to show about 115,000 new jobs. Early Thursday, US stock futures slipped into the red, while Asia struggled with South Korea's Kospi dropping 8% and the small-cap Kosdaq falling 6.8%.