US stocks extended their declines for a third consecutive session on Wednesday, with the Dow Jones Industrial Average falling 405.41 points, or 0.77%, to 52,380.66. The Nasdaq Composite dropped 0.64% to 26,253.34, while the S&P 500 fell 0.48% to 7,636.36. The Philadelphia Semiconductor Index gained 0.37% to 11,931.32. Apple shares slipped 0.28% to $315.34 despite the launch of its first foldable iPhone, the iPhone Duo, which starts at $1,999 in the United States. The company also introduced the iPhone 18 Pro and 18 Pro Max, new AirPods features, and Apple Watch upgrades. Rising Middle East tensions pushed November Brent futures to $101.21 per barrel, while the 10-year Treasury yield reached 4.857%, its highest level since November 2023, before settling at 4.836%. Meta surged 6.6% after launching its Muse AI agent, while most other major technology shares declined. Institutional investors said elevated oil prices, interest rates and extreme market positioning remained risks, although correction pressure may be easing. Investors will next assess US PPI and CPI data for clues about the Federal Reserve's rate path.