Among the Nasdaq 100 stocks, Analog Devices ADI and Palo Alto Networks PANW rallied 3.7% and 1.6%, respectively, making them some of the best performers at the market open. On the downside, Intel INTC and Micron Technology MU tumbled 4.1% and 3.6%, respectively.

Stocks finished mostly lower on Wednesday as selling of AI-related technology names continued and minutes of the Federal Reserve's July meeting revealed expectations for near-term inflation to rise.

The benchmark S&P 500 index declined for a fourth consecutive day on Aug. 20 and the Nasdaq Composite was dragged lower as mega-cap technology stocks continue to sell off. Take advantage of TipRanks Premium at 50% off!