S&P 500 and Nasdaq slip as chip stocks weigh on markets
The S&P 500 and Nasdaq edged lower Wednesday as chip stocks pulled back while investors awaited Middle East peace progress. The Dow rose on healthcare gains.
The WT S&P 500 and X NASDAQ 100 1C traded flat as investors monitored geopolitical developments in the Middle East. Major indexes remained near record highs despite a pullback in semiconductor shares and uncertainty regarding shipping routes. Strong corporate earnings growth continues to support broad market participation even as tech-heavy sectors pause.
### Geopolitical Tension Cools Market Momentum Market sentiment turned cautious after the United States denied reports from Iran state television regarding a potential deal to restore shipping in the Strait of Hormuz. The White House refuted claims that Tehran would normalize maritime traffic in exchange for a military pullback and the lifting of a naval blockade.
