Biles finished behind Chinese gymnasts Guan Chenchen and Tang Xijing while all-around gold medalist Suni Lee finished fifth.
Chinese athletes Bao Shanju and Zhong Tianshi wore pin badges of Mao after winning the women’s sprint in track cycling.
Team USA is headed to the medal round after defeating Spain 95-81 on Tuesday behind Kevin Durant's 29 points.
Lee said she "got distracted and lost focus a little bit when I won the gold medal" in women's all-around gymnastics.
Trae Young is sticking around Atlanta as the Hawks look to become a perennial contender in the Eastern Conference.