Wall Street slips on chip losses
US indexes edged lower as chip stocks faced selling pressure following caution over sector investments. Meanwhile, investors evaluated a mixed batch of quarterly earnings from major banks.
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The S&P 500 fell 0.12% to 7,798.04 during Tuesday midday trading as chip stocks retreated. The decline was led by a 6.8% drop in JOHNSON & JOHNSON despite upbeat earnings. Investors are weighing mixed financial results from major lenders against persistent macroeconomic pressures.
