New Delhi, July 8 -- US stock futures pointed to another weak start on Wednesday, 8 July, as crude oil prices resumed their rally amid renewed tensions in the Middle East, further weighing on market sentiment that had already been dented by a sell-off in chip stocks.

Futures tied to the S&P 500 fell 0.8%, while Dow Jones Industrial Average futures were down 1%. Nasdaq futures slipped 1.1%, signalling a second straight session of losses on Wall Street.

In the previous session, all three major indices ended lower as investors turned cautious on chip stocks, with valuation concerns resurfacing after their sharp rally over the past few months.

With momentum in semiconductor stocks fading, the renewed escalation in the Middle East has furth...