Stock Market Today, June 9: Chipmakers Drag Nasdaq Down at Midday

At midday, the S&P 500 (SNPINDEX:^GSPC) had fallen 1.46% to 7,297.54, and the Nasdaq Composite (NASDAQINDEX:^IXIC) dropped 2.52% to 25,246.14 on renewed artificial intelligence (AI) weakness. The Dow Jones Industrial Average (DJINDICES:^DJI) slipped 0.59% to 50,488.59 as cyclicals underperformed growth.Apple declined more than 3% this morning after yesterday’s “Apple Intelligence” reveal underwhelmed investors. Micron Technology, Qualcomm, and Advanced Micro Devices slumped as semiconductor stocks came under pressure again. Redwire sank over 18% on a $500 million at‑the‑market equity plan. Chip stocks lead the declines this morning as yesterday’s optimism faded and investors weighed the impact of high inflation and the possibility that the Federal Reserve might raise interest rates this year. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool