Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Sept. 25, 2026.

U.S. equity futures fell Wednesday, a day after the S&P 500 reached a fresh all-time high, as oil prices moved higher alongside Treasury yields.

Futures tied to the Dow Jones Industrial Average were down 201 points, or 0.4%, while S&P 500 futures shed 0.2%. Nasdaq-100 futures slipped 0.4%.

In trading on Tuesday, the S&P 500 gained 0.58%, marking its fourth positive session in a row and closing above a level of 7,800 for the first time. The Dow gained 0.49%, while the Nasdaq Composite rose 0.45%.

Chipmakers were the big winners on Tuesday, with Marvell Technology gaining 5.8% on higher revenue guidance and Advanced Micro Devices climbing 2.8% after Citi hiked its price target, citing rising demand for central processing units.

Bond yields took a break on Tuesday from the steady march upward they began at the end of February, coinciding with the start of the U.S.-Israel war on Iran. Treasury yields moved higher on Wednesday ahead of a closely watched 10-year note auction.

Investors warned Tuesday about falling foreign demand for U.S. debt amid geopolitical pressures.

Investors are awaiting the minutes of the Federal Reserve's last meeting in September, at which the U.S. central bank raised interest rates for the first time since 2023. Minutes are set to shed light on how monetary policymakers are thinking about economic conditions.

Across the Atlantic, the pan-European Stoxx 600 fell 0.69%, as the continent's main regional indexes moved lower. The U.K.'s FTSE 100 dropped 0.44%, France's CAC 40 shed 0.93%, and the German DAX fell 1.15%. The Italian FTSE MIB was 1.42% lower.

In Asia, Japan's Nikkei 225 closed 0.92% lower as the broader Topix fell 0.7%. South Korea's Kospi declined nearly 2%, while the small-cap Kosdaq lost 2.34%. Australia's benchmark S&P/ASX 200 ended flat. The mainland China market remained closed for the Golden Week holiday.

Shares listed in Europe opened broadly lower on Wednesday, with the regional Stoxx 600 index down 0.4% shortly after the bell.