S&P 500 futures fell Thursday as traders dumped chip stocks following an underwhelming report from Broadcom, while they also monitored the latest developments in the Middle East. Futures tied to the broad market index fell by 0.4%, while Nasdaq 100 futures shed 1.1%. Dow Jones Industrial Average futures, on the other hand, traded 226 points higher, or 0.4%. Shares of Broadcom traded 13% lower after the chipmaker reported a fiscal second-quarter revenue miss. Cybersecurity stock CrowdStrike also fell 10% after giving lackluster second-quarter revenue guidance. Semiconductor names, which led the latest leg higher in the market’s rally to record levels, fell broadly. The VanEck Semiconductor ETF (SMH) lost more than 3% before the bell. Arm Holdings, Micron Technology, and Marvell Technology were also down around 6% each. Thursday’s moves follow a losing day on Wall Street, with stocks pressured by rising tensions in the Middle East. Attacks escalated between the U.S. and Iran. Iran struck Kuwait International Airport early Wednesday, while one day earlier, U.S. Central Command said it had defeated multiple Iranian ballistic missiles and drones and carried out “self-defense strikes” on Qeshm Island in the Persian Gulf. It said that this was in response to “attempted attacks” by Tehran. Those declines put the S&P 500—which is riding a nine-week winning streak—lower for the week. But Keith Lerner, CIO and chief market strategist at Truist Wealth, noted that a sell-off is normal following such strong runs. “I just think we’re due for a rest,” he said on CNBC’s “Closing Bell.” “We’ve come a long way. Fundamentals are solid. Bull markets still deserve a benefit of the doubt, but often markets are two steps forward, one step back. We’ve had three steps forward, so maybe at least a mini step back, or at least some sideways chop.” Treasury yields fell on Thursday as investors await more key data on the U.S. employment picture, while renewed hopes for a Middle East ceasefire sent energy costs lower. The yield on the 10-year Treasury note—the main benchmark for mortgages, auto loans, and credit card debt—slipped 2 basis points to 4.467%. The yield on the 2-year Treasury note, which typically reacts in line with short-term Federal Reserve interest rate decisions, lost 3.7 basis points to trade at 4.047%. Meanwhile, the 30-year Treasury yield, which traditionally moves on geopolitical events, shed 1.5 basis points to 4.974%. Asia-Pacific markets fell Thursday, tracking Wall Street losses overnight. South Korea’s Kospi ended Thursday’s session 1.84% lower at 8,639.41, but the small-cap Kosdaq advanced over 2.31% at 1,049.73 as trading resumed after a holiday. Japan’s Nikkei 225 fell 1.36% at 67,470.69 after hitting a record high in the previous session, while the Topix declined 1.11% at 3,951.85. SoftBank Group dropped over 10% amid a broader decline in Asia tech stocks. Australia’s S&P/ASX 200 fell 1.88% to 8,686.10. Mainland China’s CSI 300 fell 0.69% at 4,904.75, while Hong Kong’s Hang Seng lost 1.31% in its last hour of afternoon trade. India’s Nifty 50 was marginally higher, while the BSE Sensex was flat. Crude oil prices fell about 3% Thursday on a report that President Donald Trump is reluctant to resume full-scale war with Iran despite recent clashes. West Texas Intermediate futures fell 3.5% to $92.64 per barrel by 8:30 a.m. ET. Brent futures, the international benchmark, were down more than 3% at $94.78 per barrel. Gold prices rose on Thursday as hopes of a resolution to the ​Middle East conflict pushed ​the dollar and oil ​prices lower, easing fears of higher inflation and interest rate hikes. Spot gold was up 0.7% at $4,464.79 per ounce. U.S. gold futures for August ⁠delivery ‌gained 0.6% to $4,491.80. The dollar eased, making greenback-priced bullion more affordable ⁠for holders of other currencies.