Stock futures fell on Wednesday as investors continued to rotate out of high-flying technology shares. Dow Jones Industrial Average futures dropped 0.2%, while S&P 500 and Nasdaq-100 futures declined by 0.9% and 1.5% respectively. Apple and Tesla each saw a 2% decrease before the bell, signaling a shift away from megacap technology stocks which have seen significant gains this year. Semiconductor stocks faced challenges within the tech sector following reports of potential trade restrictions by the Biden administration on companies granting China access to U.S.-made technology. The VanEck Semiconductor ETF dropped nearly 3%, with Nvidia and Taiwan Semiconductor shares also falling in premarket trading. Despite these declines, the broader market saw a winning session with the Dow reaching a record high. Small caps also performed well, with the Russell 2000 adding 3.5% and extending a five-day winning streak. The market rally is expanding beyond tech companies, fueled by optimism around potential interest rate cuts in September according to Fed funds futures trading.