NewsHK
stock indexes traded lower in midday sessions on Tuesday, driven by a decline in semiconductor shares and mixed results from major banks.
The S&P 500 fell 0.25% to 7,788, while the Nasdaq Composite dropped 0.37% to 27,139. The Dow Jones Industrial Average lagged further, trading 0.18% lower at 51,758.
The selling pressure in the technology sector was most acute in semiconductors, where the PHLX Semiconductor Index declined 1.50% during the morning session.
This drop occurred as investors assessed the impact of Chinese memory chip innovations and intensifying global competition. Despite the intraday losses, the index has accumulated a 68.20% gain year to date.
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