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
declined 1.1% to 7,181, while the Dow Jones Industrial Average
shed 113 points, or 0.4%, and the S&P 500
lost 0.6%. Shares of Nvidia were off 19.5% in early action, while the PHLX Semiconductor Index
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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