On September 2nd, the three major U.S. stock indices opened mixed, with the Dow Jones Industrial Average gaining 0.43%, the S&P 500 rising 0.09%, and the Nasdaq Composite edging down 0.04%.

Most U.S.-listed Chinese stocks declined during the session. MEITUAN-W and PONY-W each fell more than 3%, while NIO-SW dropped nearly 3%. TENCENT HOLDINGS, BILIBILI-W, and PDD Holdings Inc all slid by over 1%. Meanwhile, shares of LI AUTO-W, XPENG-W, BIDU-W, JD-SW, and BABA-W also moved lower, contributing to a widespread sell-off in the sector.

The Philadelphia Semiconductor Index saw a modest decline, with performance among semiconductor and memory chip stocks diverging. Qualcomm advanced more than 1%, while Micron Technology and SanDisk traded higher. Conversely, Broadcom and Marvell Technology each dropped over 1%, with Western Digital and SK Hynix also losing ground.

The "Magnificent Seven" tech giants displayed mixed early trading results. Meta Platforms, Inc. climbed more than 1%, and NVIDIA gained nearly 1%. On the other hand, Microsoft slipped close to 1% at the opening bell.

In individual stock news, Dell Technologies Inc. surged over 8% after the company raised its full-year revenue outlook. GitLab, Inc. jumped more than 22% following stronger-than-expected Q2 results, with total bookings reaching an all-time high. Conversely, Credo dropped over 8% after the company released its Q1 fiscal 2027 financial report.

On the macroeconomic front, the U.S. ADP private payroll report for August showed an increase of just 38,000 jobs, marking the smallest gain since January and falling short of market expectations.