Wall Street: S&P 500 and Nasdaq declined on Wednesday, with major chip and tech stocks leading the fall on worries about trade sanctions on companies giving China access to advanced semiconductor technology.
A report by news agency Bloomberg said President Joe Biden is considering the most severe trade restrictions available if companies like the Netherlands’ ASML and Japan’s Tokyo Electron continue to ship advanced semiconductor technology to China.
At 9:45 a.m. ET, the Dow Jones Industrial Average was up 28.20 points, or 0.07 per cent, at 40,982.68, the S&P 500 was down 54.33 points, or 0.96 per cent, at 5,612.87, and the Nasdaq Composite was down 338.95 points, or 1.83 per cent, at 18,170.39.
At the opening bell, the Dow Jones Industrial Average fell 91.91 points, or 0.22 per cent, to 40,862.57. The S&P 500 was lower by 57.13 points, or 1.01 per cent, at 5,610.07, while the Nasdaq Composite dropped 321.15 points, or 1.74 per cent, to 18,188.19.
