SP 500 and Nasdaq Open Lower on Chip Selloff
The SP 500 and Nasdaq opened lower as chip stocks faced selling pressure and investors reviewed mixed quarterly reports from major US banks. Meanwhile the Dow Jones Industrial Average rose at the opening bell.
Insights:
The S&P 500 fell 12 points, or 0.15%, to 7,795.27 during Tuesday morning trade as chip stocks slumped. The downturn followed mixed quarterly results from major United States banks. Investors weighed sliding tech valuations against resilient financial sector reports.
