US stocks end lower as technology shares weigh

US stocks ended lower in the first trading session of July, pressured by profit-taking in technology stocks after strong second-quarter gains by leading chipmakers.

At the close on Wednesday, the Dow Jones Industrial Average was little changed at 52,305, supported by investors rotating into sectors outside technology.

The S&P 500 fell 0.22%, or 16 points, to 7,483, while the Nasdaq Composite declined 0.66%, or 173 points, to 26,040.

In Europe, the STOXX Europe 600 lost 0.38% to 639.

The FTSE 100 slipped 0.18% to 10,478 and the CAC 40 fell 0.79% to 8,337, while the DAX added 0.18% to 25,040.

In Japan, the Nikkei 225 rose 0.59% to 70,474, marking its third straight session of gains, while the broader TOPIX advanced 0.42% to 4,011.

In commodities, September Brent crude futures fell 1.89%, or $1.38, to settle at $71.57 a barrel.

August WTI crude futures declined 1.32%, or 92 cents, to $68.58 a barrel.

Meanwhile, August gold futures gained 1%, or $43.90, to settle at $4,082.40 an ounce.

Investors continued to rotate out of technology and semiconductor stocks into more traditional sectors, locking in profits following strong second-quarter gains. Markets also continued assessing the outlook for interest rates after recent remarks by the Federal Reserve chair.