New York—Stock futures showed little movement in overnight trading on Wednesday as major indexes continued to struggle following a four-day decline, with technology stocks particularly impacting overall market performance.

Futures tied to the S&P 500 and Dow Jones Industrial Average remained stable, while Nasdaq 100 futures also hovered near the unchanged mark. This lack of significant movement comes as investors are carefully evaluating the current market landscape, particularly after losses in the tech sector.

The sell-off was led by major technology and chip companies, which contributed to the downward trend. High-profile stocks such as Amazon, Apple, and Alphabet all fell by more than 1%. Additionally, Broadcom experienced a 1.3% decline, and Intel saw a considerable drop of 7%. Nvidia initially fell more than 3% during the session but managed to close only slightly lower at 0.1%.

Market analysts noted that the selling does not appear to have been precipitated by strong negative sentiment. “There hasn’t been significant conviction behind the recent tech stock retreat, and many market watchers expect this phase to pass relatively quickly,” said Adam Crisafulli, founder of Vital Knowledge. He cautioned, however, that this complacency might lead to continued underperformance in the tech sector.

All eyes are on Federal Reserve Chair Jerome Powell, who is scheduled to speak at an economic symposium in Jackson Hole, Wyoming, this Friday. Investors hope to gain insight into future interest rate adjustments, especially as Fed funds futures indicate a probability exceeding 80% for a rate cut at the next policy meeting in September.

Recent minutes from the Fed’s July meeting revealed policymakers’ concerns regarding the labor market and inflation. Some members expressed hesitation about cutting rates too soon, highlighting a division within the Fed as two governors dissented against the decision to maintain current rates, an occurrence not seen since 1993.

Concerns about inflation persist, especially as companies implement tariffs that could be passed on to consumers. David Russell, global head of market strategy at TradeStation, emphasized that these worries align with Powell’s recent hawkish tone. “Traders may face some harsh realities come the meeting in Jackson Hole,” he noted.

Looking ahead, Thursday’s trading session will focus on earnings reports from retail giant Walmart, set to release results before the market opens, followed by Workday in the afternoon. Additionally, key economic indicators, including weekly jobless claims and existing home sales data, are anticipated, potentially influencing the market’s trajectory.