The S&P 500 and Nasdaq closed 0.25% and 1% lower respectivelly on Tuesday despite a retreat in oil prices, as the recent rebound in semiconductor shares lost steam. Semiconductor stocks came under renewed pressure, with the iShares Semiconductor ETF dropping more than 3% after rallying 6% on Monday. The fund had plunged 10% on Friday, its worst single-day decline in six years, as investors worried that the AI-fueled surge in chip stocks had become overheated. Micron Technology fell nearly 5%, giving back part of Monday’s 10% recovery. The stock had already lost about 20% over two trading sessions last week, including a steep 13% decline on Friday. Broadcom, which also suffered a sharp two-day selloff last week, slipped more than 2%. In contrast, the Dow Jones gained 0.2% boosed by J&J, Visa and JP Morgan.