Wall Street stalls as chipmakers retreat before jobs data
U.S. stocks edged down from record highs as chipmakers retreated. Investors are awaiting Friday's jobs report while monitoring potential U.S.-Iran peace talks.
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United States stocks retreated from record peaks on Thursday as a 10.8% slide in ARM Holdings led a broader semiconductor sell-off. The Philadelphia SE Semiconductor Index fell 2% after a 60% year-to-date rally, while crude oil dropped 3%. Investors are pivoting toward Friday's nonfarm payrolls report and potential diplomatic breakthroughs between Washington and Iran.
