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Semiconductor stocks drag S&P 500, Nasdaq lower: AlphaCheck
Yahoo Finance • • business
Key Points:
- The Nasdaq and S&P 500 opened lower as chip stocks faced selling pressure amid concerns over new US sanctions on Iran and stalled US-Canada trade talks.
- Technology stocks, particularly memory chip makers Sandisk and Micron, led the decline following rumors that the Trump administration may permit Apple to source chips from China's CXMT.
- Consumer staples stocks were the strongest performers in early trading, providing some market support.
- Notable stocks attracting attention include SpaceX, Sandisk, Alibaba, Marvell, SK Hynix, Applied Optoelectronics, and Lam Research.
- Market movements reflect broader concerns about geopolitical tensions and supply chain uncertainties impacting the tech sector.
