S&P 500 futures and Nasdaq 100 futures were lower Thursday, after a slide in Taiwan Semiconductor following its latest earnings dragged on chip stocks. S&P 500 futures were down 0.4%. Nasdaq 100 futures shed 1%. Futures tied to the Dow Jones Industrial Average added 17 points, or 0.02%, outperforming thanks to a more than 6% advance in UnitedHealth, which easily topped earnings expectations. Taiwan Semiconductor declined by 4.6%, as an increase in its spending forecast overshadowed a better-than-expected second-quarter report. The company expects capital expenditures to clock in between $60 billion and $64 billion for the year, up from a prior guidance in the range of $52 billion to $56 billion. The VanEck Semiconductor ETF (SMH) slid 2.2%, led by a 4% drop in Arm Holdings. After SK Hynix shares plunged 11% in Seoul, Switzerland’s ST Microelectronics — Europe’s largest semiconductor manufacturer — shed 3%. Dutch chip imprint ASMI dropped 2.92%, and Germany’s Infineon Technologies fell 2.8%. Wall Street is coming off a winning session after a softer-than-expected U.S. producer price index added to optimism that inflation is cooling. Additionally, strong earnings from major financial firms reassured investors that earnings growth remains intact, despite easing inflation, while lower Treasury yields boosted demand for growth stocks, particularly mega-cap technology companies. U.S. Treasury yields rose Thursday after oil prices resumed their climb on mounting tensions between the United States and Iran. The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — rose over 4 basis points to 4.586%. The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, rose 4 basis points to 4.166%. The longer-dated 30-year Treasury bond yield also added 4 basis points to 5.123%. South Korea’s Kospi led losses in the region, declining more than 5%, while the small-cap Kosdaq fell 1.97%. Japan’s benchmark Nikkei 225 fell 2.4%, while the Topix declined 0.9%. Australia’s benchmark S&P/ASX 200 was flat at the open. Hong Kong’s Hang Seng index was up 1.29% in its last hour of trade on Thursday, while mainland China’s CSI 300 closed 1.85% lower at 4,698.43. Oil prices rose about 1% on Thursday as concerns over Middle East ‌energy supplies increased after Iran asked Yemen’s Houthis to stand ready to close the Red Sea oil route. Brent crude futures were up 82 cents, or 0.97%, to $85.77 a barrel, while U.S. West Texas Intermediate futures were up 81 cents, or ​1.02%, to $80.41 a barrel. Gold ⁠prices eased on Thursday as ongoing tensions in the Middle East heightened inflation worries, adding uncertainty to ​the trajectory of U.S. ​interest rates. Spot gold ​fell 0.7% to $4,032.19 per ounce, while U.S. gold futures dropped 0.4% to $4,037.20. “Gold continues to be dictated by inflation and geopolitics. Continued U.S. strikes against Iran ⁠and ‌disruptions in the Strait of Hormuz support oil ⁠prices and sustain inflationary risks,” said Niko Tzabouras, a senior market analyst at Jefferies-owned Tradu.com.