Home Stocks Stocks open lower as chip makers weigh on tech

Stocks open lower as chip makers weigh on tech

2 min read

Stocks opened lower Friday, on pace to log weekly declines, as chip makers fell following disappointing earnings reports from Nvidia Corp. and other semiconductor companies. The tech-heavy Nasdaq Composite

COMP, -0.62%

declined 1.1% to 7,181, while the Dow Jones Industrial Average

DJIA, +0.05%

shed 113 points, or 0.4%, and the S&P 500

SPX, -0.16%

lost 0.6%. Shares of Nvidia were off 19.5% in early action, while the PHLX Semiconductor Index

SOX, -1.71%

dropped 2.6%. For the week, the S&P 500 was on track for a 2.4% fall, while the Dow and Nasdaq were headed for declines of more than 3%.

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